Power Finance Corporation net profit rises 7%

15 Feb 2023 CW Team

The state-owned Power Finance Corporation (PFC) increased its overall net profit by 7 per cent to Rs 52.41 billion in the December quarter, owing primarily to increasing sales.

According to a regulatory filing, the company's consolidated net profit in the October-December quarter of FY22 was Rs 48.93 billion.

The company's total income grew to Rs 196.62 billion in the quarter under review, up from Rs 192.13 billion in the same time last year.

The board also authorised the payment of a third interim dividend of Rs 3.50 per share, bringing the total interim dividend for fiscal year 2022-23 to Rs 8.75 per share.

The total loan asset book has surpassed Rs 8 trillion. The loan asset book stands at Rs 8,04,526 crore as of December 31, 2022.

Consolidated disbursements exceeded Rs 1 trillion for the nine-month period of FY23 (April-December 2022), representing a 28 per cent increase over 9M'22 (April-December 2021). According to a company release, this highlights the PFC group's strong business performance.

Because to synergies in the resolution of stressed assets, the Gross NPA (bad loan) ratio has fallen below 4 per cent, from 5.55 percent in 9M'22 to 3.91 percent in 9M'23.

The consolidated Net NPA (bad loan) ratio saw a 71 basis points reduction from 1.86 per cent in 9M'22 to 1.15 per cent in 9M'23. This is the lowest ever Net NPA ratio on consolidated basis, it stated.

Also Read
Post the earthquake, Turkey cracks down on contractors and developers
Steps being taken to encourage green steel

Real Estate

04 Aug 2026

LML Realty Launches Cinema Campaign on Industrial Vision

LML Realty has launched a cinema advertising campaign in partnership with PVR INOX across 81 screens in Gurugram and Faridabad, showcasing the brand’s transformation from a mobility icon to an industrial infrastructure developer.The campaign features a cinematic brand film tracing LML’s journey since 1972, beginning with its iconic scooters and highlighting its evolution into creating infrastructure solutions that support India’s manufacturing growth.The film focuses on LML Industrial Park at Jhirka Valley, the company’s flagship industrial development approved under the Haryana Govern..

IIM Ahmedabad Publishes Case Study on HoABL’s Business Model

The Indian Institute of Management Ahmedabad (IIMA) has published a case study on The House of Abhinandan Lodha (HoABL), examining the company’s digital-first consumer journey and business model that created India’s branded land category.Titled “HoABL: Ready for Scaling Up”, the case study has been published by the IIMA Case Centre and co-authored by Sourav Borah, Associate Professor of Marketing at IIMA, and Dr Aparna Kansal of IMT Ghaziabad. IIMA case studies are used across management and executive education programmes to help students and business leaders analyse strategic decision..

Advait Energy and MEIL Partner for Energy Transition Projects

Advait Energy Transitions Limited (AETL) and Manipal Energy Infratech Limited (MEIL), a company of The Manipal Group, have entered into a strategic Memorandum of Understanding (MoU) to collaborate on power and energy transition opportunities across India and international markets.The partnership aims to combine AETL’s expertise in innovative energy technologies and manufacturing with MEIL’s EPC execution capabilities and project management experience. The collaboration will focus on opportunities across Power Transmission & Distribution, Renewable Energy, Battery Energy Storage Systems..