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

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..