PFC Net Profit Jumps 23% to Rs 7,760 Cr in Dec Quarter

New Delhi, Feb 12 (PTI) State-owned Power Finance Corporation on Wednesday posted an over 23 per cent rise in its consolidated net profit to Rs 7,759.56 crore in the December quarter compared to a year ago, mainly on the back of higher revenues.

The company had a consolidated net profit of Rs 6,294.44 crore in the quarter ended on December 31, 2023, a BSE filing showed.

Total income rose to Rs 26,821.84 crore in the quarter against Rs 23,593.40 crore in the same period a year ago.

The board also approved declaration of third interim dividend at Rs 3.50 per equity share on the face value of the paid-up equity shares of Rs 10 each for 2024-25.

The record date for the dividend is February 28, 2025. The date of payment or dispatch of the third interim dividend shall be on or before March 11, 2025.

According to a statement, there is a 17 per cent increase in consolidated profit after tax (net profit) to Rs 22,157 crore during 9M'25 (April-December 2024) from Rs 18,905 crore in 9M'24 (April-December 2023).

Consolidated net worth, including non-controlling interest, grew 16 per cent to Rs 1,51,338 crore as of December 31, 2024, against Rs 1,27,841 crore as of December 31, 2023.

About 12 per cent growth was witnessed in consolidated loan asset book at Rs 10,69,436 crore as of December 31, 2024, compared to Rs 9,54,483 crore as of December 31, 2023.

Owing to concentrated resolution efforts, consolidated net non-performing assets (bad loans) has reached its lowest level at 0.73 per cent in 9M'25 vis-à-vis 0.86 per cent in 9M'24.

Gross NPA also declined significantly by 83 basis points (bps) to 2.30 per cent in 9M'25 from 3.13 per cent in 9M'24.

Its Chairman and Managing Director Parminder Chopra said the company's renewable portfolio registered a 28 per cent year-on-year growth this quarter, reinforcing PFC's position as India's largest renewable energy lender.