PFC reports Q1 CONSOLIDATED PAT UP 23% AT Rs. 3557 and revenue up 16% at Rs 16,915 cr

Sarkaritel
By Sarkaritel August 13, 2020 17:37

PFC reports Q1 CONSOLIDATED PAT UP 23% AT Rs. 3557 and revenue up 16% at Rs  16,915 cr


New Delhi, August 13 Govt owned PFC reported is Q1 CONSOLIDATED PAT UP 23% AT ₹3,557  CRORE AS AGAINST ₹2,900 CRORE. The revenue also increase by 16% increase in Consolidated Revenue from Operations from Q1’20 – Consolidated Revenues at ₹ 16,914 cr. for Q1’21. Vs.14,595 cr. for Q1’20

There was Reduction in consolidated net NPA ratio from 4.20% in Q1’20 to 3.15% in Q1’21 due to resolution of stressed assets, while net NPA drops by 124 bps from Q1’20 due to resolution of two stressed assets i.e. Essar Power Transmission Ltd. & Suzlon Energy Ltd. Net NPA ratio as on 30.06.2020 is at 3.41% vs. 4.65% in Q1’20, the lowest in past 4 years

The company registered a jump of 23% in Standalone Profit after Tax from Q1’20 – PAT at ₹ 1,700 cr. for Q1’21. Vs ₹1,383 cr. Q1’20

Even in a challenging operating environment, key financial indicators maintained within a stable range. Net Interest Margin on earning assets for Q1’21 at 3.48% as against 3.06% in Q1’20. The company’s capital adequacy levels at 17.32% having sufficient cushion over & above the prescribed regulatory limits and comfortable liquidity position to meet the debt obligations and future business growth

The company provided Rs 90,000 cr. liquidity support to Discoms under Aatma Nirbhar Bharat Abhiyaan, Both PFC & REC has so far sanctioned more than ₹60,000 cr. under the ₹90,000 cr. Discoms liquidity support announced by the GOI under the Aatma Nirbhar Bharat Abhiyaan.

Sarkaritel
By Sarkaritel August 13, 2020 17:37