Moneycontrol
Feb 12, 2018 09:25 PM IST | Source: PTI

Power Finance Corp net profit dips 18 percent at Rs 1,604 crore for December quarter

The company's standalone net profit was Rs 1,949.91 crore in the quarter ended on December 2016, the PFC said in a BSE filing.

Representative image
Representative image

State-run Power Finance Corp (PFC) standalone net profit dipped 17.7 percent at Rs 1,604.43 crore for the quarter ended December 2017.

The company's standalone net profit was Rs 1,949.91 crore in the quarter ended on December 2016, the PFC said in a BSE filing today.

The total income of the company was down at Rs 6,320.59 crore in the quarter from Rs 7,063.08 crore a year-ago.

Its standalone net profit in April-December was Rs 4,919.62 crore compared to Rs 5535.88 crore in same period year ago.

Total income in the nine month period was Rs 20,361.06 crore compared to Rs 21,221.50 crore a year-ago.

The company's gross non-performing assets (NPA) or bad loans as on December was Rs 14,978.78 crore.

The company made a provision of Rs 478.25 crore NPAs in the quarter ended on December 31, 2017 compared to Rs 51.19 crore previous fiscal. Similarly it provided bad loan provision of Rs 1,316.80 crore for April-December period this fiscal compared to Rs 475.50 crore.
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