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- Power Finance Corporation Q1 Results 2024: PAT Increases to ₹4,135.45 Crores, Up by 18.4%
Power Finance Corporation Q1 Results 2024: PAT Increases to ₹4,135.45 Crores, Up by 18.4%
Power Finance Corporation Ltd. (PFC) reported a net profit after tax (PAT) of ₹4,135.45 crores for Q1 2024, marking an 18.4% increase from the previous quarter.
by P Nandhini
Updated Aug 06, 2024
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Table of Content
Power Finance Corporation Ltd. (PFC) reported strong financial results for the first quarter of 2024, showcasing notable growth in their income. The company achieved a net sales income of ₹12,243.69 crores, a slight increase from the previous quarter, indicating steady business performance.
This revenue growth was coupled with an increase in their overall profit, with the net profit reaching ₹4,135.45 crores. Despite the rise in expenditure and provisions, PFC's profitability remains robust, highlighting the company's effective management and operational efficiency.
In terms of earnings, the company reported a basic and diluted Earnings Per Share (EPS) of ₹12.53, reflecting a solid return on equity for its shareholders. The results underscore PFC's stability and financial health, even as it navigates various challenges in the finance sector.
Overall, the Q1 2024 results demonstrate PFC's ability to maintain strong financial performance and sustain growth in a competitive market.
Power Finance Corporation Q1 Results 2024
Power Finance Corporation Ltd. (PFC) has announced its financial results for the first quarter of 2024, showing a positive performance in revenue and net profit. The company has reported a steady increase in its income and profitability, reflecting strong operational management. Here is a summary of the key financial figures:
| Metric | Amount (₹ Crores) |
|---|---|
| Net Sales/Income from Operations | 12,243.69 |
| Total Income from Operations | 12,243.69 |
| Employees Cost | 57.61 |
| Depreciation | 5.71 |
| Provisions and Contingencies | -337.02 |
| Other Expenses | 246.39 |
| Profit/Loss Before Interest, Exceptional Items & Tax | 12,271.00 |
| Other Income | 5.41 |
| Profit/Loss Before Interest, Exceptional Items & Tax | 12,276.41 |
| Interest | 7,256.44 |
| Profit/Loss Before Exceptional Items & Tax | 5,019.97 |
| Profit/Loss Before Tax | 5,019.97 |
| Tax | 884.52 |
| Net Profit After Tax (PAT) | 4,135.45 |
| Basic EPS | 12.53 |
| Diluted EPS | 12.53 |
| Equity Share Capital | 3,300.10 |
Power Finance Corporation Ltd
Power Finance Corporation Ltd. (PFC) is an Indian government-owned company established in 1986 that plays a crucial role in funding the country's power sector. It is one of the largest non-banking financial companies (NBFCs) in India and has a significant impact on infrastructure finance. PFC supports various power projects by providing financial assistance and has a strong reputation in the industry.
The company went public in 2007 and is listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). In October 2021, it was upgraded to a "Maharatna" status, reflecting its financial strength and large scale of operations.
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