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Business News/ Companies / Company Results/  Maharatna CPSE Power Finance declared 3rd interim dividend, PAT up 7% in Q3

Power Finance Corporation Ltd., a Schedule-A Maharatna CPSE that was established on July 16th, 1986, is one of the top non-banking financial institutions in the nation. The company has declared its Q3 earnings along with 3rd interim dividend for its eligible shareholders.

The company has said in a stock exchange filing that the Board of Directors has approved “Declaration of Third interim dividend @ Rs.3.50 (Rupees Three paisa fifty only) per equity share (subject to deduction of TDS) on the face value of the paid-up equity shares of 10/- each for the FY 2022-23. Further, it is to inform that Friday, 24th February, 2023 shall be reckoned as the ‘Record Date’ for the purpose of ascertaining the eligibility of shareholders for payment of Third Interim Dividend for the FY 2022-23. The date of payment /dispatch of the aforesaid interim dividend shall be on or before 14th March, 2023."

The firm reported a net profit of 5,241.10 crore on a consolidated basis, up from 4,893.91 crore in Q3FY22 or up by 7% year-on-year. In the quarter under review, the company's net income climbed to 19,662.65 crore from 19,213.69 crore in the same quarter last year. The company's net interest income (NII) decreased 7.1% YoY to 7,218.6 crore in Q3FY23 from 7,773.2 crore in Q3FY22.

The consolidated loan asset book stood at 8,04,526 crore. In comparison to 9M'22 (April-December 2021), the total consolidated disbursements for the first nine months of FY23 (April–December 2022) were 1,06,875 crore, an increase of 28%. The EPS of Power Finance Corporation reached 14.62 in Q3FY23 compared to 13.56 in Q3FY22.

The shares of Power Finance Corporation closed today on the NSE at 143.75 apiece level, up by 1.70% from the previous close of 141.35. The stock recorded a total NSE + BSE volume average of 2,445,114 shares and a delivery volume average of 87,999,653 shares. At today’s closing price, the stock was seen trading below the 20, 50, 100 and 200 days Simple Moving Average (SMA).

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Updated: 14 Feb 2023, 04:41 PM IST
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