Power Finance Corporation (PFC) has released its financial results for the second quarter ended September 30, 2024, reporting a significant year-on-year (YoY) increase in profitability and operational income.
Key Highlights
- Total Income: PFC recorded a total income of ₹25,754.73 crore, up 15.1% YoY from ₹22,387.32 crore in Q2 FY24, driven primarily by an increase in interest income which stood at ₹25,398.42 crore.
- Profit Before Tax (PBT): The company reported a PBT of ₹9,367.86 crore, a 8.6% rise from ₹8,628.79 crore in the same quarter last year.
- Net Profit: For Q2 FY25, PFC’s net profit increased by 8.6% to ₹7,214.90 crore from ₹6,628.17 crore in Q2 FY24.
- Expenses: Total expenses increased to ₹16,386.87 crore, up from ₹13,758.53 crore in the corresponding quarter of the previous fiscal year, primarily due to higher finance costs and provisions.
Operational Insights
PFC has continued to demonstrate robust financial growth supported by its core operations in the financing sector, catering predominantly to the power sector. The rise in profit is attributed to the increase in lending activity and interest income. Despite the rise in expenses, the company has maintained strong profitability.
