PFC shares slip 5% post-Q1 results; consolidated PAT up 20%, firm declares interim dividend

Power Finance Corporation (PFC), a central public sector undertaking owned by the Ministry of Power, reported on Tuesday, August 6, a standalone net profit of ₹3,718 crore for the quarter ended June 30, 2024 (Q1 FY25). The figure grew 23.7% from ₹3,006.9 crore reported in the year-ago period. 

Net interest income (NII) increased 23.5% to 4,328 crore from ₹3,503.3 crore registered in the corresponding quarter of the previous fiscal. 

The company also declared its first interim dividend of ₹3.25 per share. The record date for the same is fixed as August 8, 2024, for the purpose of ascertaining the eligibility of shareholders for payment. The date of payment of the interim dividend shall be on or before September 5, 2024. 

On a consolidated basis, the state-owned company posted over a 20% rise in its consolidated net profit to ₹7,182.06 crore, mainly due to higher revenues. The company reported a consolidated net profit of ₹5,982.14 crore in the quarter ended on June 30, 2024, a regulatory filing showed.

Total income rose to ₹24,736.68 crore from ₹21,017.81 crore in the same period a year ago.

PFC stock performance

Shares of the company have rallied 122% in the past 12 months and 442% in the past five years. In comparison, the BSE Power Index has given 91% returns in the past year and nearly 321% in five years. Meanwhile, Sensex has gained around 110% in the past five years.