On a consolidated basis, Power Finance Corporation (PFC) reported a net profit of Rs 3,906 crore in Q4 FY21, steeply higher than net profit of Rs 693.71 crore in Q4 FY20.
Total income increased 11.69% to Rs 18,155.14 crore in Q4 FY21 over Q4 FY20. Profit before tax (PBT) stood at Rs 5,005 crore in Q4 FY21 as against Rs 1,575.89 crore in Q4 FY20.The company said it has not experienced any significant impact on its liquidity position due to access to diversified sources of borrowings. The company continues to be well geared to meet its funding needs. Power Finance assured that it given its credit worthiness and well established relationship with lenders, it can mobilize funds from domestic and international markets.
The company reported a 65.8% jump in consolidated net profit to Rs 15,716 crore in the year ended March 2021 (FY21) over year ended March 2020 (FY20). Total income grew by 15.13% to Rs 71,700.51 crore in FY21 over FY20.
Meanwhile, the board has announced a final dividend of Rs 2 per share.
PFC is a leading power sector public financial institution and a non-banking financial company providing fund and non-fund based support for the development of the Indian power sector.
Shares of PFC were down 0.39% at Rs 129.05 on BSE.
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