PFC Reported Q4 Results Out, Net Profit Surges, Asset quality improves

Power Finance Corporation Ltd, The Maharatna company has reported its Q4 FY 2023-24 results today in the live market, The company has reported a surge of 22% in net profits to Rs.4125.45 crores from Rs.3377.20 crores in Q4 FY 2022-23. The board has also announced a dividend of Rs.2.50 per share.

Q4 Performance of PFC Ltd

The Public sector Maharatna company has reported a surge of 22% in net profits to Rs.4135.45 crores in this quarter from Rs.3377.20 crores in Q3 FY 2023-24. The total Revenue from operations for this quarter stood at Rs.12,243.7 crores against Rs.11,852.50 crores in Q4 FY 2022-23, reflecting a surge of 3.3% on QoQ basis.

The asset quality for PFC Ltd. has improved in this quarter, Gross NPA is reported at 3.34% in this quarter down by 18 Bps from 3.52% in Q3 FY 2023-24. Net NPA were reported at 0.85% against 0.9% in the previous quarter. 

Sandeep Kumar as CFO

Power Finance Corporation Ltd. has said that the executive director of the company, Sandeep Kumar has been appointed as the Chief Financial Officer of the company with immediate effect, Thus with effect from May 15, 2024.

Conclusion: The Public sector company has reported a surge in its net profits in this quarter, The asset quality has also improved in this quarter. The stock is up by 4% post reporting its earnings, It has given returns of more than 200% over the past year and was one of the top performers of the NIFTY PSE index in 2023. The stock currently trades at Rs.437.80 a piece up by 4% from its previous day closing price.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.