PFC’s PAT rises 24% to Rs 3,718 cr in Q1

New Delhi: Power Finance Corporation (PFC) declared its financial results for June quarter of FY2024-25 on Tuesday.

On standalone basis, Profit After Tax (PAT) jumped 24 per cent to Rs 3,718 crore in Q1FY25 from Rs 3,007 crore in Q1FY24. The Loan Asset Book grew 10 per cent from Rs 4,32,339 crore as on June 30, 2023 to Rs 4,75,007 crore as on June 30, 2024.

PFC continues to maintain comfortable capital adequacy levels. CRAR as on June 30, 2024 is at 27.10 per cent, with Tier 1 capital at 24.86 per cent.

PFC’s net worth has surpassed the Rs 80,000 crore mark and now stands at Rs 83,265 crore as on June 30, 2024, an increase of 17 per cent from June 30, 2023.

The Gross NPA ratio saw a significant reduction of 44 bps viz-a-viz Q1FY24 and is at 3.38 per cent for Q1FY25. The Net NPA ratio also declined 0.87 per cent in Q1FY25 against 1.04 per cent in Q1FY24, a decrease of 17 bps.

On consolidated basis, PFC reported 20 per cent jump in PAT from Rs 5,982 crore in Q1FY24 to Rs 7,182 crore to in Q1FY25. The Loan Asset Book crossed 10 lakh crores mark and stands at Rs 10,04,735 crore as on June 30, 2024 against Rs 8,86,723 crore as on June 30, 2023.

Company’s net worth (including non-controlling interest) increased by 20 per cent from Rs 1,18,367 crore as on June 30, 2023 to Rs 1,41,940 crore as on June 30, 2024.

Owing to concentrated resolution efforts, Gross NPA has reached below 3 per cent and is at 2.97 per cent in Q1FY25 from 3.54 per cent in Q1FY24. Net NPA also declined significantly by 16 bps from 1 per cent in Q1FY24 to 0.84 per cent in Q1FY25.

Chairman and MD, Parminder Chopra shared that “The company’s strong performance has enabled it to declare an interim dividend of Rs 3.25 per share in Q1FY25.”