PFC announces Q1 results 23 pct. increase in consolidated PAT PSU NEWS



New Delhi: Power Finance Corporation Ltd. today announced its financial results for the quarter ended 30th June 2020.

• 23% increase in consolidated Profit After Tax from Q1’20 - PAT at Rs.  3,557 cr. for Q1’21 vs. Rs. 2,900 cr. for Q1’20
• 16% increase in Consolidated Revenue from Operations from Q1’20 - Consolidated Revenues at Rs.  16,914 cr. for
Q1’21. Vs.14,595 cr. for Q1’20
• Reduction in consolidated net NPA ratio from 4.20% in Q1’20 to 3.15% in Q1’21 due to resolution of stressed assets.
• Comfortable capital levels to support future growth - Consolidated CRAR at 16.48% as on 30.06.2020
• Net NPA drops by 124 bps from Q1’20 due to resolution of two stressed assets i.e. Essar Power Transmission Ltd. & Suzlon Energy Ltd.Net NPA ratio as on 30.06.2020 is at 3.41% vs. 4.65% in Q1’20, the lowest in past 4 years
• 23% jump in Standalone Profit after Tax from Q1’20 - PAT at ?1,700 cr. for Q1’21.Vs ?1,383 cr. Q1’20
• 16% increase in Interest Income from Q1’20 –Interest Income at ?8,749 cr. for Q1’21 vs.7,531 cr. Q1’20
• Gross NPA ratio saw a drastic reduction of 211 bps from Q1’20. The current GNPA ratio is at 7.50% against 9.61% in Q1’20.
• Even in a challenging operating environment, key financial indicators maintained within a stable range. Net Interest Margin on earning assets for Q1’21 at 3.48% as against 3.06% in Q1’20.
• Comfortable capital adequacy levels at 17.32% having sufficient cushion over & above the prescribed regulatory limits
• Comfortable liquidity position to meet the debt obligations and future business growth Rs. 90,000 cr. liquidity support to Discoms under Aatma Nirbhar Bharat Abhiyaan
• PFC & REC has so far sanctioned more than Rs. 60,000 cr. under the Rs. 90,000 cr. Discoms liquidity support announced by the GOI under the AatmaNirbhar Bharat Abhiyaan.

Posted Date :  13-08-20

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