The firm had a net profit of Rs 308.65 crore in the first quarter of FY 2008, PFC said in a filing to the Bombay Stock Exchange.
The total income of the company rose to Rs 1,441.60 crore in the latest quarter, from Rs 1,145.81 crore in the same period a year ago.
Shares of PFC were trading at Rs 110.70, up 2.93 per cent in the late afternoon trade on the BSE.