State-owned Energy Finance Company (PFC) on Wednesday reported a virtually 27 per cent rise in its consolidated web revenue to Rs 6,628.17 crore within the July-September quarter in comparison with final 12 months.
A BSE report confirmed that the corporate’s consolidated web revenue stood at Rs 5,229.33 crore within the quarter ended September 30, 2022.
Complete revenue rose to Rs 22,403.69 crore within the quarter from Rs 19,344.39 crore in the identical interval final 12 months.
Parminder Chopra, Chairman and Managing Director, PFC, mentioned: “We had one other profitable quarter for FY2024 with a 28 per cent improve in earnings in comparison with Q2 2023, reflecting our inherent strengths.
“This quarter, the board has declared an interim dividend of Rs 4.50 per share,” it mentioned.
Until September 30, 2023, the PFC has sanctioned Rs 70,499 crore and disbursed Rs 31,508 crore beneath the late fee surcharge scheme.
The consolidated mortgage asset e book crossed the Rs 9 lakh crore mark and stood at Rs 9,23,724 crore as of September 30, 2023, as towards Rs 7,71,119 crore as of September 30, 2022, registering a rise of 20 per cent.
Resulting from ongoing and energetic decision efforts, consolidated web non-performing loans (NPA) reached lower than 1 p.c and 0.98 p.c in April-September 2023 from 1.27 p.c in April-September 2022.
Gross NPA (unhealthy loans) additionally decreased considerably by 98 foundation factors from 4.38 per cent within the first half of 2023 to three.40 per cent within the first half of 2024.
PFC Group is the nodal company for implementing the late fee surcharge guidelines.
With the appliance of those guidelines, greater than 50 p.c of the outdated dues that have been paid by distribution corporations to producing corporations have been decreased.
On a standalone foundation, the financial institution registered a 2.5 occasions soar in disbursements (loans) – from Rs 21,790 crore in H1 2023 to Rs 55,562 crore in H1 2024.
He defined that the numerous improve in disbursements is because of lending on the distribution entrance and renewable power tasks.
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(Marks for translation) Energy Finance Company