PSU NEWS
PFC Q1 net up 9 percent at Rs 1713 crore
New delhi . Power Finance Corp (PFC) on Tuesday posted a 8.64% rise in standalone net profit at Rs 1,712.55 crore for the quarter ended June 30, on the back of higher interest income.
The company`s net profit for the April-June quarter last year was Rs 1,576.21 crore, PFC said in a BSE filing.Standalone income from operations during the quarter was at Rs 7,105.60 crore, registering an increase of 5.1%.Interest income in the first quarter increased to Rs 7,072.05 crore from Rs 6,709.32 crore in the year-ago period.
The company said: "The valuation of quoted current investments has been madecategory wise against the earlier policy of scrip wise valuation. Due to this change in accounting policy, profit before tax for current quarter has increase by Rs 63.65 crore."
Read Also : Vice Admiral Dinesh Kumar Tripathi appointed as next Chief of the Naval Staff
News Must Read
- CIL’s capex up 6.5% to highest Rs.19,840 Crores in FY 2024
- SCOPE presents SCOPE PREMIER LEAGUE
- MCL Ib Valley Washery commenced commercial operation
- HAL bags Rs 65,000 Cr tender by Defence Ministry
- PSBs' growth output superseded Private Lending firms
- Northern Coalfields Limited CMD inspects Amlohri Area
- SCOPE organizes Public Sector Day celebrations
- IOCL Final Dividend Announcement Expected at April 30 Board Meeting
- Steel Cutting Ceremony of Indian Navy held at HSL Vishakapatnam
- DIPAM declines PFC-REC debt resolution proposal for KSK Mahanadi project