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PFC spurts as Q4 PAT jumps 20% YoY to Rs 5,624 cr
15-May-24 14:58Hrs IST

Total income jumped 20.44% year on year (YoY) to Rs 24,176.34 crore in the quarter ended 31 March 2024.

Consolidated profit before tax stood at Rs 9,597 crore in the March quarter, up 23.64% from Rs 7761.82 crore in Q4 FY23.

Total expenses in Q4 FY24 were at Rs 14,579.16 crore, up 18.41% on YoY basis.

On full year basis, the company's consolidated net profit jumped 24.37% to Rs 19,761.16 crore on 17.46% rise in total income to Rs 91,174.81 crore in FY24 over FY23.

Meanwhile, the company?s board recommended a final dividend of Rs 2.50 per equity share, subject to approval of shareholders. The dividend, if declared, will be paid within the statutory period of 30 days from the date of approval in ensuing AGM.

Further, the firm said that Sandeep Kumar, executive director has been appointed as chief financial officer of the company with immediate effect.

Power Finance Corporation (PFC) is a leading power sector public financial institution and a non-banking financial company providing fund and non-fund-based support for the development of the Indian power sector.

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