PFC powers quarterly net by 23% to Rs 1,198 crore
8 Aug 2013 11:08 PM GMT
Power Finance Corporation Ltd (PFC) has achieved a 23 per cent increase in profit after tax (PAT) to Rs 1,198 crore for the first quarter (April-June) of the current financial year (2013-14). The company’s profit after tax for the corresponding period of the previous fiscal (2012-13) was Rs 972 crore.
Its income from operations rose 27 per cent to reach Rs 5,015 crore against Rs 3,944 crore in the first quarter of 2012-13. While the corporation’s loan assets increased 24 per cent from Rs 1,34,742 crore to Rs 1,67,196 crore, its net worth rose 15 per cent from Rs 20,359 crore to Rs 23,427 crore during this period.
Net non-performing assets as a per cent of loan assets stood at 0.59 per cent. Sanctions by Power Finance Corporation are up 37 per cent from Rs 11,182 crore to Rs 15,375 crore while PFC’s earning per share (EPS), in annualised terms, has increased by 23 per cent from Rs 29.45 to Rs 36.31.
The major projects sanctioned by PFC during the quarter include the Rs 2,500-crore 850-mw HEP of GVK Ratle Hydro-Electric Project Pvt Ltd at Kistwar District, Jammu & Kashmir, Rs 2,083-crore 2X800 mw TPSÂ of Andhra Pradesh Power Development Corp, and Rs 1,494-crore debt refinancing to West Bengal Power Development Corporation.
Its income from operations rose 27 per cent to reach Rs 5,015 crore against Rs 3,944 crore in the first quarter of 2012-13. While the corporation’s loan assets increased 24 per cent from Rs 1,34,742 crore to Rs 1,67,196 crore, its net worth rose 15 per cent from Rs 20,359 crore to Rs 23,427 crore during this period.
Net non-performing assets as a per cent of loan assets stood at 0.59 per cent. Sanctions by Power Finance Corporation are up 37 per cent from Rs 11,182 crore to Rs 15,375 crore while PFC’s earning per share (EPS), in annualised terms, has increased by 23 per cent from Rs 29.45 to Rs 36.31.
The major projects sanctioned by PFC during the quarter include the Rs 2,500-crore 850-mw HEP of GVK Ratle Hydro-Electric Project Pvt Ltd at Kistwar District, Jammu & Kashmir, Rs 2,083-crore 2X800 mw TPSÂ of Andhra Pradesh Power Development Corp, and Rs 1,494-crore debt refinancing to West Bengal Power Development Corporation.
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