 "Power Finance Q3 results: Profit up 23% at Rs 7,760 cr, dividend declared")
State-owned Power Finance Corporation (PFC) on Wednesday reported a 23 per cent rise in consolidated net profit at Rs 7,759.56 crore for the third quarter (Q3) of the financial year 2024-25 (FY25) from Rs 6,294.44 crore reported during the same period last year.
Consolidated revenue from operations rose 14 per cent to Rs 26,798.04 crore year-on-year from Rs 23,571.83 crore.
Net Interest Income (NII), the difference between interest earned and interest paid, rose 12.9 per cent Y-o-Y to Rs 4,694 crore, up from Rs 4,158 crore in Q3FY24.
Asset quality remained stable, with gross non-performing assets (GNPA) at 2.68 per cent, slightly improving from 2.71 per cent in the previous quarter. Similarly, net NPA (NNPA) was at 0.71 per cent, compared to 0.72 per cent in Q2FY25.
Loan growth stood at 10 per cent Y-o-Y, slightly trailing the company's FY25 target of 14 per cent.
PFC dividend declared
PFC declared a third interim dividend of Rs 3.50 per equity share for FY25. The record date for eligibility is set for February 28, 2025, and the dividend will be paid by March 3, 2025.
Shares of PFC were trading at Rs 381, up more than 1 per cent, on BSE at 1:30 pm after the company's Q3 FY25 results were released.