Author: PPD Team Date: 23/05/2025
Power Finance Corporation (PFC) Limited reported a 15 per cent rise in its consolidated profit after tax (PAT) for FY 2024-25, reaching Rs 305.14 billion, up from Rs 264.61 billion in the previous year. The company’s loan asset book rose by 12 per cent, from Rs 9,908.2 billion to Rs 11,099.96 billion as of March 31, 2025.
PFC’s consolidated net worth, including non-controlling interest, grew by 16 per cent to Rs 1,551.55 billion.
PFC remains India’s largest non-banking financial company (NBFC) with a balance sheet size exceeding Rs 11.70 trillion.
On a standalone basis, PFC reported a 21 per cent increase in PAT, reaching Rs 173.52 billion for FY 2024-25. In Q4 of the fiscal year, PAT rose by 24 per cent to Rs 51.09 billion from Rs 41.35 billion in the same quarter last year.
Meanwhile, REC Limited raised Rs 56.35 billion through private bond placements. The issue included:
- Rs 30 billion in bonds with a 2-year 8-month tenure and a 6.52 per cent annual coupon.
- Rs 26.35 billion in bonds with a 10-year 11-month tenure and a 6.81 per cent annual coupon.
The bonds received strong interest and were rated “AAA” by CARE Ratings, ICRA, and India Ratings & Research. They will be listed on the Bombay Stock Exchange and the National Stock Exchange.
In a related development, REC Power Distribution Company Limited (REC PDCL) incorporated Mekhali Power Transmission Limited as a special purpose vehicle (SPV) on May 20, 2025. The SPV will establish a 400 kV substation and associated transmission lines in Belagavi district, Karnataka.
REC PDCL will act as the bid process coordinator to select a transmission service provider (TSP) for the project via tariff-based competitive bidding.