Power Finance Corporation (PFC) reported a consolidated net profit of Rs 71.82 billion for Q1 FY25, marking a 20.06% increase from Q1 FY24. The company’s total revenue from operations grew by 17.65% to Rs 247.17 billion during the same period. Total income rose by 17.69% year-on-year to Rs 247.37 billion.
For the quarter ended June 30, 2024, PFC’s consolidated profit before tax increased by 20.17% to Rs 88.94 billion, compared to Rs 74.01 billion in Q1 FY24. Total expenses in Q1 FY25 were Rs 158.43 billion, reflecting a 16.35% year-on-year increase.
The company’s board declared an interim dividend of Rs 3.25 per equity share for FY25, subject to shareholder approval. The record date for the dividend is set for August 30, 2024, and it will be paid on or before September 5, 2024.
Power Finance Corporation, a leading public financial institution and non-banking financial company, provides fund and non-fund-based support for the development of the Indian power sector. Shares of PFC fell by 3.79% to Rs 478.75 on the BSE.