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  5. PFC shares jump 9% on Q2 results; check Maharatna company's key numbers and stock's performance this year

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PFC shares jump 9% on Q2 results; check Maharatna company's key numbers and stock's performance this year

Upstox
By Upstox News Desk

3 min read | Updated on November 11, 2024, 14:29 IST

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SUMMARY

PFC on Friday posted a nearly 9% rise in consolidated net profit at ₹7,214.90 crore for the September quarter mainly on the back of higher revenues.

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PFC
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Gross NPA (bad loans) also declined significantly by 78 basis points from 3.40% in H1 FY24 to 2.62% in H1 FY25.

Gross NPA (bad loans) also declined significantly by 78 basis points from 3.40% in H1 FY24 to 2.62% in H1 FY25.

PFC share price: Shares of Power Finance Corporation (PFC) soared as much as 8.82% to ₹489.10 apiece on the BSE on Monday, November 11, as the company on Friday posted a nearly 9% rise in consolidated net profit at ₹7,214.90 crore for the September quarter mainly on the back of higher revenues.

The company logged a profit of ₹6,628.17 crore in the same period of FY24. Total income rose to ₹25,754.73 crore from ₹22,387.32 crore a year ago.

There was a 13% growth in the consolidated loan asset book, from ₹9,23,724 crore as of September 30, 2023, to ₹10,39,472 crore in September this year.

Owing to concentrated resolution efforts, consolidated net NPA (bad loans) reached its lowest level at 0.80% in H1 FY25 vis-à-vis 0.98% in H1 FY24, it stated.

Gross NPA (bad loans) also declined significantly by 78 basis points from 3.40% in H1 FY24 to 2.62% in H1 FY25.

Director of Finance, Sandeep Kumar, said that PFC successfully reduced net NPA levels below 1%, reaching a level of 0.72%.

"Our board has declared an interim dividend (second for fiscal FY25) of Rs 3.50 per share. Our subsidiary, PFC Infra Finance IFSC Ltd., based in IFSC GIFT City, Gujarat, commenced foreign currency lending operations in October 2024. This makes it the first company to commence power and infra-lending business in IFSC," Chairman and Managing Director Parminder Chopra said.

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November 25, 2024, shall be the record date for ascertaining the eligibility of shareholders for payment of the second interim dividend.

The date of payment/dispatch of the interim dividend shall be on or before December 8, 2024.

In a separate development, two transmission projects of a PFC subsidiary have been transferred to the Power Grid Corporation of India, a regulatory filing said.

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The names of the projects are Khavda PSl and 3 Transmission Limited, and Barmer I Transmission Limited, PFC said.

About Power Finance Corporation

Power Finance Corporation Ltd. is a Schedule-A Maharatna CPSE and is a leading non-banking financial corporation in India. PFC's registered office is located in New Delhi, and regional offices are located in Mumbai and Chennai. The entity was incorporated on July 16, 1986. 

PFC share price performance

PFC shares have given 22% returns so far in calendar year 2024. Over the past year, the stock price has zoomed 56%.

(With PTI inputs)

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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