State-owned Power Finance Corporation (PFC) announced a robust financial performance for the quarter ending June 2024, with a significant rise of over 20% in its consolidated net profit, reaching ₹7,182.06 crore. This growth is primarily attributed to higher revenues compared to the same period last year.
According to the regulatory filing, PFC’s net profit for the June 2023 quarter was ₹5,982.14 crore, highlighting a year-on-year increase that underscores the company’s strong financial health and operational efficiency.
The total income for PFC in the June 2024 quarter rose to ₹24,736.68 crore, up from ₹21,017.81 crore in the corresponding period of the previous year. This impressive revenue growth has bolstered the company’s profit margins, reflecting its strategic initiatives and effective management.
In addition to reporting strong financial results, PFC’s board has approved an interim dividend of 32.50%, equating to ₹3.25 per equity share on the face value of paid-up equity shares of ₹10 each for FY’25. This decision aligns with PFC’s commitment to delivering value to its shareholders.
PFC has set August 30, 2024, as the record date for determining the eligibility of shareholders entitled to receive the interim dividend. The dividend is scheduled for distribution on or before September 5, 2024. Shareholders are advised to mark these dates to ensure their eligibility for this financial benefit.
PFC’s continued growth and profitability underscore its pivotal role in financing the power sector in India. As the nation moves towards enhanced energy infrastructure and sustainability, PFC remains committed to supporting these endeavors through strategic investments and financial solutions.
With the ongoing momentum, PFC aims to maintain its trajectory of growth and shareholder value, reinforcing its position as a leading financial institution in the power sector.
