Power Finance Corporation Q4 Profit Rises 43%!

Power Finance Corporation has reported results for the fourth quarter (Q4) and the year ended March 31, 2023. The board of the company also recommended a final dividend of Rs 4.50 per equity share with a face value of Rs 10. On a consolidated basis, the company has reported a 42.66% rise in its net profit at Rs 6128.63 crore for the fourth quarter ended March 31, 2023, as compared to Rs 4295.90 crore for the same quarter in the previous year. The total income of the company increased by 6.36% at Rs 20074.11 crore for Q4FY23 as compared to Rs 18873.55 crore for the corresponding quarter previous year. 

For the year ended March 31, 2023, on a standalone basis, the company has reported a 15.80% rise in its net profit at Rs 11605.47 crore as compared to Rs 10021.90 crore for the previous year. The total income of the company increased by 2.78% at Rs 39665.63 crore for the year under review as compared to Rs 38591.17 crore for the year ended March 31, 2022. 

For the year ended March 31, 2023, on a consolidated basis, the company has reported a 12.84% rise in its net profit at Rs 21178.59 crore as compared to Rs 18768.21 crore for the previous year. The total income of the company marginally increased by 1.68% at Rs 77625.19 crore for the year under review as compared to Rs 76344.92 crore for the year ended March 31, 2022. 

Power Finance Corporation Limited is a Non-Deposit taking NBFC registered with the RBI as an Infrastructure Finance Company. It is engaged in extending financial assistance to the Indian power sector. 

The company has reported impressive growth in PAT, and investors should keep a close eye on this stock.