Power Finance Corporation’s Q3 net profit jumps 23% to Rs1,949 crore

PFC posted a net profit of Rs1,582.32 crore for the corresponding quarter of last fiscal, the company said in a BSE filing on Monday


PFC’s total income has increased to Rs7,063.08 crore in the quarter under review, from Rs6,994.10 crore in the same period last fiscal.
PFC’s total income has increased to Rs7,063.08 crore in the quarter under review, from Rs6,994.10 crore in the same period last fiscal.

New Delhi: Power Finance Corporation (PFC) on Monday reported an over 23% surge in standalone net profit to Rs1,949.91 crore for the third quarter ended 31 December.

The company had posted a net profit of Rs1,582.32 crore for the corresponding quarter of last fiscal, PFC said in a BSE filing on Monday.

According to the statement, total income has increased to Rs7,063.08 crore in the quarter under review, from Rs6,994.10 crore in the same period last fiscal.

It also informed the BSE about the non-performing asset provision of Rs51.19 crore for the current quarter and Rs475.50 crore for the nine months ended on 31 December 2016. It also stated that the Gross NPA stood at Rs7,302.67 crore as on 31 December 2016, whereas it was Rs7,520.21 crore on 31 March 2016.

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