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State-owned Power Finance Corporation today reported nearly 21% jump in its net profit at Rs 1,448.26 crore for the quarter ended June 30, 2014 mainly due to increase in income from operations.
The company had posted a net profit of Rs 1,198.24 crore in the same period, last fiscal.
Total income of the company increased to Rs 5,923.90 crore during the quarter from Rs 5,017.10 crore in the same period, last financial year (2013-14), PFC said in a statement.
The public sector lender witnessed a 17% jump in its net interest income to Rs 2,291 crore from Rs 1,950 crore, PFC said in a statement.
PFC sanctioned major loans worth Rs 5,329 crore during the quarter which included Rs 1,606 crore to the Andhra Pradesh Power Development Corporation, Rs 1,456 crore to Tamil Nadu Generation and Distribution Corporation and Rs 1,087 crore to Jinbhuvish Power Generation.
The net NPAs (non-performing assets) of the company as on June 30, 2014 stood at 0.83% of Rs 1,95,191 crore loan assets.
Shares of PFC closed at Rs 265.60, up 3.15% on the BSE.
