Power Finance Corporation Q3 PAT seen down 22% at Rs 514 cr

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Power Finance Corporation Q3 PAT seen down 22% at Rs 514 cr

Power Finance Corporation is expected to report a profit after tax of Rs 514 crore in the October-December quarter of FY12, degrowth of 22% as compared to Rs 659 crore in the corresponding quarter of last fiscal.

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Power Finance Corporation is expected to report a profit after tax of Rs 514 crore in the October-December quarter of FY12, degrowth of 22% as compared to Rs 659 crore in the corresponding quarter of last fiscal.

Net interest income is seen going up by 22% to Rs 1,133 crore from Rs 926 crore year-on-year.

Expectations

- Expect loan growth to remain healthy at 26% YoY

- Margins expected to be stable QoQ

- Higher MTM losses likely - due to Re depreciation (only 14% of foreign currency borrowings fully hedged)

- Operational expenses likely to increase 22%

- Asset quality to remain stable

- PAT decline driven by MTM losses