PFC Q3 profit dips 18% at Rs1,604 crore
New Delhi: State-run Power Finance Corporation (PFC) standalone net profit dipped 17.7% at Rs1,604.43 crore for the quarter ended December 2017.
The company’s standalone net profit was Rs1,949.91 crore in the quarter ended on December 2016, the PFC said in a BSE filing on Monday. The total income of the company was down at Rs6,320.59 crore in the quarter from Rs7,063.08 crore a year-ago. Its standalone net profit in April-December was Rs4,919.62 crore compared to Rs5535.88 crore in same period year ago.
Total income in the nine month period was Rs20,361.06 crore compared to Rs21,221.50 crore a year-ago. The company’s gross non-performing assets (NPA) or bad loans as on December was Rs14,978.78 crore.
The company made a provision of Rs478.25 crore NPAs in the quarter ended on 31 December 2017 compared to Rs51.19 crore previous fiscal. Similarly it provided bad loan provision of Rs1,316.80 crore for April-December period this fiscal compared to Rs475.50 crore.