PFC Q4 PAT grows 20% to ₹5,624 crore

Published - May 15, 2024 09:15 pm IST - Mumbai

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.

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