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

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..