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Report card: PFC reports all-time high profit of Rs 8,444 cr in FY21

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powerThe lender’s 16 energy initiatives with an publicity of Rs 15,820 crore are within the NCLT.

State-owned Power Finance Corporation (PFC) has reported a web revenue of Rs 8,444 crore for the fiscal ended March 2021 on a standalone foundation, recording a 49% year-on-year rise from the year-ago interval on the again of upper curiosity earnings and and decrease value of funds. That is the best annual revenue ever recorded by the corporate. In Q4FY21, PFC’s revenue elevated 62% to Rs 2,327 crore.

The corporate’s board on Tuesday authorized a dividend of Rs 2 per fairness share of face worth of Rs 10 every for FY21. PFC’s web curiosity earnings elevated 28% yearly to Rs 12,951 crore in FY21. Crossing the Rs 50,000-crore mark, PFC’s web value for FY21 is up 16% to Rs 52,393 crore. The present gross NPA ratio has additionally come down to five.7% towards 8.1% in FY20. The online curiosity unfold rose by 27 bps yearly to three.1% at FY21 finish as yield on property fell 5 foundation factors to 10.6% whereas its value of funds fell by a sharper 31 foundation factors to 7.5%. Mortgage property on the finish of the fiscal elevated 7.5% y-o-y to Rs 3.71 lakh crore as disbursements went up 29.9% by Rs 88,301 crore.

Associated Information

The lender’s 16 energy initiatives with an publicity of Rs 15,820 crore are within the NCLT. The corporate’s board, in January, had authorized to boost its FY21 market borrowing restrict to Rs 1.18 lakh crore from the sooner restrict of Rs 90,000 crore because it ready to disburse over Rs 60,000 crore to state-run energy discoms to assist them clear the dues of energy turbines beneath the liquidity infusion scheme.

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