Power Finance Corporation Ltd. (PFC) reported consolidated fourth quarter net profit grew 20% to ₹5,624.36 crore from ₹4,676.71 crore in the year earlier period owing to 22% year-on-year (YoY) increase in interest income at ₹23,891.19 crore.
During Q4 FY24, the company’s revenue from operations rose 20% to ₹24,141.40 crore YoY.
For FY24 PFC reported net profit of ₹19,761.16 crore, up 24% from ₹15,889.33 crore in FY23.
Interest income for the year grew 18% YoY to ₹90,085.40 crore.
Revenue from operation increased 15% YoY to ₹91,096.72 crore.
Parminder Chopra, CMD, PFC said “PFC Group continues to be the largest NBFC in India and is also India’s highest profit making NBFC ...this strong performance is backed by a 14% growth in our loan portfolio.”
The board announced final dividend of ₹2.50 per share. With this, the total dividend for FY24 would be ₹13.50 per share.
The company’s renewable loan portfolio grew 25% YoY to more than ₹60,000 crore.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.