PFC Q4 results, PAT jumps 20% YoY to Rs 5,624 cr

The company registered a 16 per cent increase in net worth to Rs 79,203 crore as on March 31, 2024 from Rs 68,202 crore as on March 31, 2023.

PFC Q4 results, PAT jumps 20% YoY to Rs 5,624 cr

Power-sector PSU Power Finance Corporation (PFC) has announced its quarterly results FY 2024 and reported loan growth of 14 per cent year-on-year to Rs 4.81 lakh crore.

PFC Group registered the highest annual Profit After Tax (PAT) with 25 per cent increase to Rs 26,461 crores in FY ’24 from Rs 21,179 crore in FY23 and still continues to be the largest NBFC Group in India with total balance sheet size crossing more than Rs 10 lakh crore in FY24.

Read Also : NTPC Q4 results: Net consolidated profit rises 33% YoY

Net Interest Income (NII) for the quarter stood at Rs 4,237 crore, which is flat compared to the December quarter, up by 22% compared to the same period last year.

Revenue for the quarter went up by 20.2 per cent from last year to Rs 12,243.7 crore.

Net profit for the quarter is reported to surge 32.6% and other income to Rs 755.4 crore. The consolidated Gross NPA is nearly 3% in FY ’24 against 3.66 per cent in FY’23.

Read Also : NTPC Concludes National Finale of Power Quiz 2024 and Medha Pratiyogita 2024 at PMI, Noida

PFC maintains comfortable capital adequacy levels with capital to risk-weighted assets ratio (CRAR) as of March 31, 2024, to be 25.41%, with Tier 1 capital at 23.18%, well above the regulatory limit.

The company registered a 16 % increase in net worth to Rs 79,203 crore on March 31, 2024, from Rs 68,202 crore on March 31, 2023.

Read Also : 25th Edition Manufacturing IT Summit: Shaping the Future of Manufacturing Technology