Power Finance Corporation (PFC) on has reported an 18.4 percent year-on-year jump in net profit at Rs 4,135 crore in the March quarter.
The firm’s revenue grew 20 percent to Rs 12,243.7 crore, the company said in filing on May 15.
The asset quality also improved in the final quarter of FY24. Net non-performing assets (NPAs) came down to 0.85 percent and gross NPA down to 3.34 percent, the company said. In the December quarter, net NPAs were at 0.9 percent and gross NPAs 3.52 percent.
A final dividend of Rs 2.5 a share for FY24 was announced, which is in addition to the interim dividends of Rs 11 already paid during the year.
PFC executive director Sandeep Kumar has been appointed the chief financial officer with immediate effect, the company said.
Following the earnings announcement, the stock surged 4.28 percent to Rs 439.60 on BSE.
(This is a developing story, please check back for updates.)
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