Govt-Backed NBFC Reports 42.66% Surge In Q4 Net Profit, Declares Dividend

Power Finance Corporation (PFC) has recently reported impressive financial results for the fourth quarter of the fiscal year. The company's net profit for Q4 has surged by over 42.66% to reach an impressive figure of Rs 6,128.63 crore.

The company reported a net profit of Rs 4,295.90 crore in the January-March quarter of the prior fiscal year (FY) 2021-22.

Total income climbed by 6% year on year to 20,074.11 crore from 18,873.55 crore in the previous quarter.

The company's consolidated net worth climbed to 1,11,981 cr on March 31, 2023, up from 96,275 cr on March 31, 2022.

The Board of Directors of Power Finance Corporation Ltd. in a meeting recommended "final dividend of 4.50/- per equity share on the face value of the paid-up equity shares of 10/- per share for the fiscal year 2022-23, subject to shareholder approval. The final dividend is in addition to the 8.75 cents per share paid in fiscal year FY23"

PFC's last trading price closed at ₹175.35 apiece on BSE. The company's 52 week high price is Rs. 177.40 52-week low price is Rs 97.15 per share, respectively. PFC has a market capitalisation of Rs 46,359.84 crore.