Maharatna PFC declares 32% rise in PAT, in Q2

New Delhi, NewsonRadar Bureau, Nov. 12: Power Finance Corporation Ltd., a financial sector PSU, which has been conferred with the highest Maharatna status  by Govt. of India  recently, has shown impressive  performance in Q2 of current financial year  2021-22, according to a company press release.

A quantum jump gaining  32% increase in Standalone Profit After Tax at Rs. 2,759 cr. for Q2’22.against Rs.2,085 cr. for  corresponding period of 2021.  The company has declared an interim Dividend of Rs 2.50 per share, thus, so far PFC has given an interim dividend of Rs.4.75 per share i.e.47.5%. A healthy CRAR quarter on quarter as on 30.09.2021 is 21.76% with Tier I capital of 18.42% and Tier II capital of 3.34%.

Net NPA levels have dropped below 2 %. The net NPA ratio as on September 30 is 1.92%,which is the lowest in last 5 years.  A 19% increase in consolidated Net worth from H1’21 – Net worth at Rs. 90,311 cr. for H1’22 vs.Rs.75,596 cr. for H1’21

The PSU has shown 18% increase in Net Interest Income from H1’21 – Net Interest Income at Rs. 15,069 cr. for H1’22 vs Rs.12,782 in H1’21. Reduction in consolidated net NPA ratio from 2.60% in H1’21 to 1.72% in H1’22 due to resolution of stressed assets.

The company has claimed : ‘Our inherent strength and strong fundamentals has led to consistent performance quarter on quarter’ in the press note issued recetly.