https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

Power Finance Corporation Reports 20% Increase in Net Profit for June 2024 Quarter

PFC's net profit for the June 2023 quarter was ₹5,982.14 crore
Indian Masterminds Stories

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.


Indian Masterminds Stories
Related Stories
NEWS
IRTS logo
IRTS Officer Narain SN Re-designated as Director in the Ministry of Petroleum & Natural Gas
IAS Officers Indian Administrative Services (IAS)
2 IAS Officers Promoted to Additional Chief Secretaries by Punjab Govt
UPSC Image IAS IPS IFS
UPSC 2025: Last Date for CSE & IFS Application Extended to February 18, Full Details Here
moefcc-environment-climatechange-resized
Parliament Questions: Mission LiFE and Beyond - India’s Path to a Sustainable, Climate-Resilient Future
NBCC
NBCC (India) Ltd Receives "Great Place to Work" Certification for the Fifth Time
govt_assam_resized
Assam Govt Suspends IAS Officer Indreswar Kalita Following Arrest in Corruption Case
Tamil-Nadu government
38 IAS Officers Transferred in Tamil Nadu; Supriya Sahu Reassigned as Environment Secy, Alby John Appointed MD of TNPGCL
IRS Officer Indian revenue Services
IRS Officer Maimun Alam Appointed as Director in Ministry of Steel
Videos
Vivek Mehrotra, IAS
No One Can Pressurise An IAS Officer, If He Sticks To These Five Principles
Harsimran Singh Cheema
9 Years, Countless Setbacks, 1 Dream: Harsimran Singh Cheema’s UPSC to IFS Story
IAS Extension (29)
This Book Of Memoirs Blurs The Line Between Facts & Fiction
ADVERTISEMENT
Latest
IRTS logo
IRTS Officer Narain SN Re-designated as Director in the Ministry of Petroleum & Natural Gas
IAS Officers Indian Administrative Services (IAS)
2 IAS Officers Promoted to Additional Chief Secretaries by Punjab Govt
ADVERTISEMENT
Videos
Vivek Mehrotra, IAS
Harsimran Singh Cheema
IAS Extension (29)
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT