 "Power Finance Corporation profit surges 22% to Rs 13.73 billion in Q1")
Power Finance Corporation Tuesday posted over 22 per cent jump in its standalone net profit to Rs 13.73 billion in the quarter ended June 30, on the back of higher revenues and lower impairment allowance on financial instruments.
The company's net profit in the quarter ended June 30, 2017 stood at Rs 11.22 billion, the company said in a BSE filing.
According to the filing, the company's total revenues rose to Rs 70.27 billion in the quarter, compared to Rs 67.28 billion in the year-ago period.
It has provided Rs 23.4 million toward impairment allowance on financial instruments in the quarter, which is lower than Rs 10.95 billion crore a year ago.
The company's primary business is to provide to finance to power sector.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app