PFC, a non-banking financial institution under the Ministry of Power, posted its highest ever net profit of 8,444 crores in FY 21, up 49 percent year on year (Y-o-Y). Power Finance Corporation (PFC) declared a net profit of Rs 3,906 crore in Q4 FY21, a significant increase from the previous quarter's net profit of Rs 693.71 crore.
In Q4 FY21, total income climbed 11.69 percent to Rs 18,155.14 crore, compared to Q4 FY20. In Q4 FY21, profit before tax (PBT) was Rs 5,005 crore, compared to Rs 1,575.89 crore in Q4 FY20.
In the year ended March 2021 (FY21), the firm recorded a 65.8% increase in consolidated net profit to Rs 15,716 crore, compared to the year ended March 2020. (FY20). In FY21, total income increased by 15.13 percent to Rs 71,700.51 crore, compared to FY20.
Shares of PFC ended the day lower by 0.39% at Rs 129.05 on BSE.
Highlights of PFC Q4:
- With an annual profit after tax ( PAT ) of Rs.8,444 crore, the company has the highest annual profit.
- From FY '20 to FY '21, Standalone Profit After Tax increased by 49%.
- For FY21, PAT is Rs.8,444 crore. Compared to Rs.5,655 crore in FY20.
- Net Interest Income increased by 28% from FY20 to FY21, with Net Interest Income of Rs. 12,951 crore compared to Rs. 10,097 crore in FY20. Dividend of Rs.2 per share issued. PFC has thus paid a total dividend of Rs. 10 per share, or 100 percent, in FY 21.
- PFC's net worth for FY 21 increased by 16 percent to Rs.52,393 crore, surpassing the fifty thousand mark, thanks to profit growth.
- 25% of the total Book in a Hurry Resolved in Fiscal Year 21:
- From FY20 to FY21, the gross NPA ratio dropped by 238 basis points. The present GNPA ratio is 5.70 percent, compared to 8.08 percent in fiscal year 2020.
- Net NPA levels are at their lowest point in the last four years. From FY20 to FY21, the net NPA ratio dropped by 171 basis points. The current Net NPA ratio is 2.09 percent, down from 3.80 percent in fiscal year 2020.
- The Company's Capital Adequacy Ratio has also improved sequentially to 18.83 percent as of March 31, 2021. The capital adequacy is at a comfortable level, with enough buffer over and above the legal requirements.