PFC earns consolidated PAT of ₹4,677 crore in Q4, up by 46%; dividend declared
Government-backed NBFC, Power Finance Corporation (PFC) posted a consolidated net profit of ₹4,676.7 crore in the fourth quarter of FY23. The Q4 PAT registered a growth of 45.8% when compared to a profit of ₹3,205.8 crore recorded in Q4FY22.
In the preceding quarter, the profit was ₹3,860.25 crore.
The profitability is attributed to the owners of the company.
However, consolidated revenue climbed by a single-digit 6.4% to ₹20,060.86 crore in Q4FY23 as against ₹18,853.18 crore in Q4 of the previous fiscal. In December 2023 quarter, revenue was at ₹19,639.14 crore.
Total expenses in the quarter came in at ₹12,312.29 crore, declining from ₹13,427.63 crore in Q4FY22 and ₹13,043.66 crore in the previous quarter.
For the full year FY23, the revenue was at ₹77,568.30 crore as against ₹76,261.66 crore. PAT stood at ₹15,889.33 crore versus ₹14,014.79 crore in FY22.
In a meeting held on Saturday, PFC’s board members recommended a final dividend of ₹4.50 per share having a face value of ₹10 each. The final dividend is in addition to ₹8.75 per share already paid in the fiscal year FY23.
The company has fixed June 16 as the record date to determine eligible shareholders for the dividend. The payout for ₹4.5 per share dividend will be done within 30 days from the date of approval in the annual general meeting (AGM).
On BSE, PFC’s share price closed at ₹170.35 apiece broadly flat on Friday against the previous session.
Indian central public sector undertaking, PFC is the financial backbone of Indian power sector.
Know your inner investor
Do you have the nerves of steel or do you get insomniac over your investments? Let’s define your investment approach.
Download The Mint News App to get Daily Market Updates.
Updated: 27 May 2023, 10:35 PM IST
