Power Finance Corporation Q3 net profit rises 20 per cent to Rs 6,294 crore

State-owned Power Finance Corporation on Thursday said it has posted an over 20 per cent rise in its consolidated net profit to Rs 6,294.44 crore in the December quarter, on the back of higher revenues.

The company’s consolidated net profit was Rs 5,241.10 crore in the quarter ended on December 31, 2022, according to a BSE filing. Total income in the quarter rose to Rs 23,593.40 crore from Rs 19,662.65 crore in the same period a year ago.

The board, in its meeting on Thursday, approved the declaration of a second interim dividend at the rate of 35 per cent, of Rs 3.50 per equity share, subject to deduction of TDS, on the face value of the paid-up equity shares of Rs 10 each for FY 2023-24.

The date of payment /dispatch of the interim dividend shall be on or before March 9, 2024, the filing said. In a separate statement, the company said it has registered a 19 per cent rise in consolidated loan asset book from Rs 8,04,526 crore as on December 31, 2022, to Rs 9,54,483 crore as on December 31, 2023.