Power Finance Corporation Q3 results: Net profit rises 23% YoY to ₹5,829 crore, announces third interim dividend
Power Finance Corporation Q3 results: Net profit rises 23% YoY to ₹5,829 crore, announces third interim dividend
Power Finance Corporation (PFC), on Wednesday, announced a 23 per cent increase in its consolidated net profit for the December quarter, reaching ₹5,829 crore (attributable to owners of company) compared to ₹4,727 crore in the same period last year.
The total operational revenue for Q3FY25 reached ₹26,798 crore, marking a 14 per cent increase from ₹23,571 crore recorded in the same quarter of the previous financial year.
The government-owned company declared a third interim dividend of ₹3.50 per equity share for the financial year 2024-25.
Financial highlights
The company's net interest income (NII), which represents the gap between interest earned and interest spent, increased by 13 per cent to ₹4,694 crore for the quarter, compared to ₹4,158 crore in the same quarter last year.
Quarter-on-quarter, the profit after tax (PAT) increased by 10 per cent from ₹5,302 crore recorded in the July-September period. Meanwhile, the company's revenue grew by 4 per cent compared to the ₹25,722 crore reported by PFC in Q2FY25.
PFC has designated February 28 as the record date, with the third interim dividend scheduled for payment on or before March 11, 2025.
In Q3FY25, interest income reached ₹26,400 crore, rising from ₹25,398 crore in Q2FY25 and ₹23,284 crore in Q3FY24. Fees and commission income for the October-December quarter stood at ₹110 crore, increasing from ₹98 crore in Q2FY25 and ₹68 crore in the same period last year.
Additionally, the PSU company earned ₹44.37 crore in dividend income during Q3FY25, compared to ₹22.48 crore in Q2FY25 and ₹21.31 crore in Q3FY24.
Other operating income for the reviewed quarter amounted to ₹244 crore, up from ₹203 crore in Q2FY25 and ₹199 crore in Q3FY24.
The earnings were released during market hours, leading to a surge of over 2 per cent in PFC shares, reaching an intraday high of ₹384.25 on the NSE.
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