PFC logs highest ever quarterly profit of Rs 5,229 cr

Sarkaritel
By Sarkaritel November 10, 2022 16:39

PFC logs highest ever quarterly profit of Rs 5,229 cr


  • Consolidated Highlight
  • PFC Group delivers highest ever consolidated Profit After Tax (PAT) of Rs. 5,229 cr. in Q2’23. On a half year basis, PFC Group reported PAT of Rs. 9,809 cr. in H1’23 vis-à-vis Rs. 9,578 cr. in H1’22.
  • The consolidated net worth crossed Rs. 1 lakh cr. mark and stood at Rs.1,02,280 cr. (including Non-controlling Interest) as on 30th September,2022. This is reflective of PFC Group strong fundamentals and would help in leveraging future business opportunities.
  • The synergies in resolution of stressed assets has led to a sharp reduction of 79 bps in Consolidated Gross NPA Ratio, resulting it to drop below 5% from 5.17% in H1’22 to 4.38% in H1’23.
  • The consolidated Net NPA ratio saw a 45 bps reduction from 1.72% in H1’22 to 1.27% in H1’23. This is the lowest ever Net NPA ratio on consolidated basis.
  • Under the Late Payment Surcharge Scheme, till date, PFC group has collectively sanctioned Rs. 1,00,303 cr. to 15 Discoms in 10 states and so far has disbursed Rs. 13,307 cr.
  • PFC Group can now lend in infrastructure and logistics sector, implying a positive opportunity for the Group to diversify its businesses. To start with, lending upto 30% of net worth has been permitted by Ministry of Power.

 

  • Standalone Highlights
  • Registered highest ever quarterly Profit After Tax (PAT) of Rs. 2,999 cr. in Q2’23. The PAT for Q2’23 saw a 9% increase viz-a-viz Q2’22. For H1’23, PFC delivered PAT of Rs. 5,108 cr. compared to Rs. 5,032 cr. in H1’22.
  • Interim dividend of Rs.3 per share declared in Q2’23, taking cumulative interim dividend this financial year to Rs.5.25 per share.
  • CRAR as on 30.09.2022 is at 24.29%, with Tier I capital at 21.13% & Tier II capital at 3.16%, which is well above the minimum CRAR requirement. PFC continues to have comfortable capital adequacy levels.
  • The Net NPA Ratio saw a sharp reduction of 42 bps viz-a-viz Q1’23. The Net ratio for H1’22 is at 1.31%, which is the lowest in last 5 years. The reduction is mainly due to resolution of two stressed assets in this quarter, namely South East UP Transmission Company Limited and Jhabua Power limited of outstanding amount of Rs. 2,263 cr. and Rs. 764 cr. respectively.
  • Till date, PFC has sanctioned Rs.45,524 cr. and disbursed Rs.6,610 cr. to Discoms for clearance of dues under the LPS Rules.

Under the RDSS, action plan and projects for Discoms in 2 states i.e. Maharashtra and Puducherry have been sanctioned during the quarter. Thus, so far, action plan for 10 states has been approved i.e. Andhra Pradesh, Gujarat, Himachal Pradesh, Kerala, Madhya Pradesh, Uttarakhand, Haryana, Jharkhand, Maharashtra and Puducherry.

Sarkaritel
By Sarkaritel November 10, 2022 16:39

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