Power Finance Corp reports 17% profit jump

Power Finance Corporation (PFC) reported a consolidated profit after tax of INR22,157 crores for the nine months ending February 12, 2025, marking a 17% increase year-over-year. The company's loan asset book stood at INR1,069,436 crores, representing a 12% growth. Asset quality improved, with gross NPA reaching 2.30% and net NPA ratio at 0.73%. PFC's standalone net profit was INR12,243 crores, up 20%. An interim dividend of INR3.50 per share was declared, bringing the cumulative interim dividend to INR10.25 per share. The renewable energy portfolio grew by 28% to INR69,500 crores, supported by a JPY 120 billion green loan agreement with JBIC. Resolution plans for stressed assets, including KSK Mahanadi project, are progressing, and disbursements in the distribution sector are expected to drive future growth, with sanctions reaching INR252,000 crores for FY24-25.