Godavari Biorefineries Q2 Results: Net Loss Increases to ₹75 Crore in Q2
PFC Q2 Results: 8.9% Profit Rise, ₹7,215 Crore Net Profit
Last Updated: 8th November 2024 - 04:41 pm
On Friday, November 8, State-owned Power Finance Corporation Ltd (PFC) announced a year-on-year (YoY) net profit increase of 8.9%, reaching ₹7,215 crore for the second quarter, which concluded on September 30, 2024. The company's operational revenue rose by 15% to ₹25,721.8 crore, compared to ₹22,374.6 crore in the same period of the previous fiscal year.
The board has announced a second interim dividend of ₹3.50 per equity share (or 35%) on the face value of ₹10 per paid-up equity share for the fiscal year 2024-25, subject to TDS deduction.
Power Finance Corporation Q2 Results Highlights
• Revenue: 15% increase to ₹25,721.8 crore.
• Net Profit: 8.9% year-on-year (YoY) increase in net profit at ₹7,215 crore.
• EBITDA: Up 10.5% to ₹25,354.2 crore in the second quarter of this fiscal.
• Stock Market: Power Finance Corporation share price closed at ₹450.70 on the BSE, down ₹11.20, or 2.42%.
Power Finance Corporation Management Commentary
The board has announced a second interim dividend of ₹3.50 per equity share (representing 35%) on fully paid-up equity shares with a face value of ₹10 each for the financial year 2024-25. This dividend will be subject to the deduction of TDS.
Further, it is to inform you that Monday (September 25, 2024) will be reckoned as the 'Record Date' to ascertain the eligibility of shareholders for payment of the second interim dividend for the FY 2024-25. The date of payment of the second interim dividend shall be on or before December 8, 2024.
Stock Market Reaction
Power Finance Corporation Ltd shares closed at ₹450.70 on the BSE, marking a decrease of ₹11.20 or 2.42%.
About Power Finance Corporation
Power Finance Corp Ltd (PFC) is an infrastructure finance company specializing in financial products and advisory services for the power sector. Its offerings include project term loans, bill discounting, equipment lease financing, and short-term loans. PFC's services extend to takeout financing, asset acquisition funding, credit facilities for purchasing power via exchanges, and debt refinancing for completed projects. It also offers corporate loans for project expansion, acquisition, and new ventures, as well as financial support for distribution franchises. Additionally, PFC provides consultancy for power generation, transmission, and distribution projects, including the renovation and modernization of existing facilities.
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