On Friday, state-run Power Finance Corporation (PFC) reported a 9% rise in consolidated net profit to Rs 7,214.90 crore for the September quarter. This increase in the company's profit is mainly due to increased income.

The company's profit in the same quarter of the previous financial year was ₹ 6,628.17 crores. During this period, the total income increased to ₹ 25,754.73 crores, which was ₹ 22,387.32 crores in the same period last year.

The company's consolidated net profit during April-September FY25 rose 14% to ₹14,397 crore, from ₹12,610 crore in the same period last year.

The consolidated net worth of the company (which includes a non-controlling stake) increased by 17% to ₹1,45,158 crore as against ₹1,23,703 crore as of September 30, 2023.

The consolidated loan asset book of Power Finance Corporation (PFC) registered a growth of 13% from ₹9,23,724 crore as of September 30, 2023, to ₹10,39,472 crore at the end of September this year.

According to PFC, due to its robust resolution strategy, the company's consolidated net NPA (bad loans) has declined to 0.80% in H1 FY25 from 0.98% in the same period last year (H1 FY24).

Power Finance Corporation (PFC) has reported a decline of 78 basis points in its gross NPA (bad loans) in H1 FY25 to 2.62% from 3.40% in H1 FY24.

Director (Finance) Sandeep Kumar said that the company has succeeded in bringing down its net NPA from 1% to 0.72%.

Company Chairman and Managing Director Parminder Chopra said that PFC has performed strongly this quarter, with disbursements of ₹46,663 crore. He said that the board has declared a second interim dividend of ₹3.50 per share for the financial year FY25.

In addition, PFC Infra Finance IFSC Limited, a subsidiary of PFC located in IFSC GIFT City, Gujarat, started lending operations in foreign currency in October 2024. The company has become the first company to offer power and infrastructure loans in IFSC.

The record date for the second interim dividend has been fixed as November 25, 2024, to identify eligible shareholders.