PFC post Rs 936 cr net profit in March quarter

State-run Power Finance Corporation (PFC) today posted a standalone net profit of Rs 936.60 crore for the quarter ended on March 31, 2018 on the back of higher revenues.

The company suffered a standalone net loss of Rs 3,409.49 in the quarter ended on March 31, 2017, a BSE filing said.

The total income in the fourth quarter rose to Rs 6,376.68 crore from Rs 5,797.07 crore in the year ago period.

The company's consolidated net profit for 2017-18 is Rs 5,844.11 crore, up from Rs 2,236.10 crore in the previous financial year.

However, the total consolidated income of the firm was down at Rs 27,245.33 crore in 2017-18 from Rs 27,611.29 crore in the previous financial year.

The company's loan asset grew by 14 per cent at Rs 2.78 lakh crore in 2017-18 from 2.45 lakh crore in the previous fiscal.

Similarly the loan disbursements also increased to Rs 64,414 crore in 2017-18 from Rs 62,798 crore.

The company's cost of borrowing funds also improved to 8.18 per cent in 2017-18 from 8.41 per cent in previous fiscal.

The company recorded 79 per cent drop in Government Sector NPA (non performing Assets or bad loans) from Rs 24,031 crore in 2016-17 to Rs 5,016 crore in 2017-18.