34 percent increase in PFT for Q1, 2021

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Power Finance Corporation Ltd, an Indian financial institution under the ownership of the Ministry of Power has witnessed a 34% increase in Standalone Profit After Tax from Q1’21. Following are the highlights of the first quarter result of 2021:

  • Standalone
  • 34% increase in Standalone Profit After Tax from Q1’21- PAT at Rs. 2,274 cr. for Q1’22 vs. Rs.1,700 cr. for Q1’21.
  • 15% increase in Net Interest Income from Q1’21-Net Interest Income at Rs. 3,525cr. for Q1’22 vs.Rs.3,073cr. in Q1’21
  • Interim Dividend of Rs.2.25 declared per shaRE.
  • Aided by profit growth, PFC’s net worth for Q1’22 is up by 17% to Rs.54,739 cr. from Rs. 46,940 cr. in Q1’21.
  • The Capital Adequacy Ratio of the Company has crossed 20% – CRAR of 21.16% as of 30.06.2021. The capital adequacy is at a comfortable level with sufficient cushion over & above the prescribed regulatory limits.
  • To fortify the balance, provisioning coverage on Stage III (NPA) Assets was enhanced to 65%. This has resulted in the lowest Net NPA levels of 2% in the past 3 years.
  • Revamped Distribution Sector Scheme with an outlay of Rs.3,03,758 crore provides significant business opportunity to PFC going forward. PFC along with our subsidiary REC has been designated as nodal agencies for facilitating the implementation of the Scheme.
  • Consolidated
  • 28% increase in consolidated Profit After Tax from Q1’21- PAT at Rs. 4,555 cr. for Q1’22 vs. Rs.3,557cr. forQ1’21
  • 12% increase in Consolidated Revenue from Operations from Q1’21 – Consolidated Revenues at Rs. 18,965 cr. for Q1’22 vs. Rs.16,914 cr. for Q1’21.
  • Loan Asset book grows at 9.5% – Loan asset book for Q1’22 at Rs.Rs.7,49,373cr. vs. Rs.6,84,383 cr. in Q1’21.
  • Reduction in consolidated net NPA ratio to 1.80% in Q1’22 from 3.15% in Q1’21due to resolution of stressed assets.
    • Liquidity support to Discoms under Aatma Nirbhar Bharat Abhiyaan
  • Under the AatmaNirbharDiscoms liquidity support announced by the GOI, PFC & its subsidiary REC combined together have so far sanctioned Rs.1,35,537 cr. and disbursed Rs.79,678 cr.