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PFC net increases marginally

State-owned power sector financial services major Power Finance Corporation (PFC) reported a marginal rise in net profit for the July to September, 2017, quarter.

Published: 04th November 2017 02:32 AM  |   Last Updated: 04th November 2017 09:47 AM   |  A+A-

By Express News Service

NEW DELHI: State-owned power sector financial services major Power Finance Corporation (PFC) reported a marginal rise in net profit for the July to September, 2017, quarter. Standalone net profit of the firm stood at Rs 1,886.59 crore against Rs 1,873.42 crore during the corresponding quarter of the previous year.

The company stated in a regulatory filing that apart from approving the financial results for second quarter the company’s board also approved payment of interim dividend at the rate of Rs 6 per equity share on the face value of the paid-up equity shares of Rs 10 each for 2017-18.

The company also stated that payment/dispatch of dividend shall be on or before  December 2, 2017.
Meanwhile, the companies other indicators performed positively during the quarter, especially considering the high NPA levels in the infrastructure sectors currently. According to the firm, total income of the company rose to Rs 7,108.57 crore in the second quarter from Rs 6,999.76 crore in the year-ago quarter. The interest income of the company was Rs 6,897.06 crore in the quarter, slightly up from Rs 6,856.90 crore in the year-ago period.

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