PFC logs nearly 10% growth in Q4 FY22 net profit
Premium- Its total income during the quarter under review stood at ₹18,873.55 crore nearly 4% higher than Rs18,155.14 crore earned during the corresponding period of FY21
PremiumListen to this article |
NEW DELHI : State-run Power Finance Corporation (PFC) on Wednesday reported a 9.98% growth in its consolidated net profit for the January-March quarter of FY22 at ₹4,925.90 crore.
During the same quarter of the previous financial year (FY21), the company had reported a consolidated net profit of ₹3,906.05 crore.
Its total income during the quarter under review stood at ₹18,873.55 crore nearly 4% higher than ₹18,155.14 crore earned during the corresponding period of FY21.
For the last financial year (FY22), the company reported a consolidated net profit of ₹18,768.21 crore, 19.41% higher than ₹15,716.20 crore registered in FY21, showed a regulatory filing.
Its total income in FY22 rose 6.47% to ₹76,344.92 crore.
The company witnessed a 31 basis points reduction in consolidated net NPA ratio from 1.91% in FY21 to 1.60% in FY22 due to resolution of stressed assets. Its consolidated gross NPA ratio in FY22 was 5.02% down from 5.29% in FY21.
The chairman and managing director of PFC, R.S. Dhillon said: “PFC continues to stick to its commitment to share its success with the shareholder and accordingly, during the year, PFC has distributed nearly 32% of its profit through dividend to its shareholder."
He added that power sector is still reeling under the impact of Covid pandemic, as a result of which PFC’s loan asset book grew marginally. “However, we are optimistic that with the economic activity bouncing back to its pre-covid level, PFC’s business activity would start picking up momentum," he said.
MINT PREMIUM
See All
Shares of the company on the BSE closed at ₹106.90 on Wednesday, lower by 0.74% from its previous close.
