PFC corrects on profit booking after Q4 results

Power Finance Corporation fell 4.37% to Rs 294.60 at 15:10 IST on BSE on profit booking after the company declared its Q4 March 2014 results during trading hours today, 27 May 2014.

Meanwhile, the BSE Sensex was down 145.19 points, or 0.59%, to 24,571.69.

On BSE, so far 5.80 lakh shares were traded in the counter, compared with an average volume of 3.79 lakh shares in the past one quarter.

The stock hit a high of Rs 309.65 and a low of Rs 285.55 so far during the day. The stock hit a 52-week high of Rs 334 on 26 May 2014. The stock hit a 52-week low of Rs 97.40 on 2 August 2013.

Shares of Power Finance Corporation (PFS) surged 68.47% in the preceding 18 trading sessions to Rs 308.05 on Monday, 26 May 2014, from Rs 182.85 on 29 April 2014.

The stock had outperformed the market over the past one month till 26 May 2014, rising 65.62% compared with 8.94% rise in the Sensex. The scrip had outperformed the market in past one quarter, rising 99.84% as against Sensex's 17.77% rise.

The large-cap company has an equity capital of Rs 1320.04 crore. Face value per share is Rs 10.

PFC's net profit rose 9.06% to Rs 1411.41 crore on 20.68% increase in total income to Rs 5636.09 crore in Q4 March 2014 over Q4 March 2013.

The company's net profit rose 22.58% to Rs 5417.75 crore on 24.69% increase in total income to Rs 21537.46 crore in the year ended March 2014 over the year ended March 2013.

On a consolidated basis, PFC's net profit rose 23.08% to Rs 5461.84 crore on 24.90% increase in total income to Rs 21629.22 crore in the year ended March 2014 over the year ended March 2013.

PFC's main business is to provide finance to power sector.

Powered by Capital Market - Live News