Power Finance Corporation reports net profit of ₹4,893.91crore in Q3

The board in its conference on Friday agreed on a third interim dividend of Rs 6 per equity stake.

Power Finance Corporation (PFC) on Friday reported a rise of nearly 24 percent in its consolidated net gain to Rs 4,893.91 crore for the third quarter, primarily due to a surge in revenue.

The company had recorded a consolidated net profit of Rs 3,963.18 crore in the same quarter of last fiscal, a BSE filing declared. Its revenue from policies during the quarter under review witnessed a 4% surge, i.e at ₹19,175.75 crore, from ₹18,434.88 crore reported in the third quarter of FY21.

For the period nine months ended December, the firm reported a 23% increase in its consolidated net profit at ₹14,483 crore, against the ₹11,810 crore in April-December FY21. Its operational revenue during April-December FY22 surged 7% on a year-on-year basis to ₹57,409 crore.

The board in its conference on Friday agreed on a third interim dividend of Rs 6 per equity stake (subject to deduction of TDS) on the face value of the paid-up equity shares of Rs 10 each for 2021-22.

However, Power Finance Corporation Ltd. (PFC) a Maharatna CPSE and country’s leading NBFC in the power sector, has earned the prestigious ICAI (Institute of Chartered Accountants of India) Silver award for superiority in financial reporting for the financial year 2020-21 in ‘Public Sector Entities’ category.

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