PFC Q1 Net Profit Up 9% at Rs 1,576 Crore

New Delhi: State-run lender Power Finance Corporation today reported a 8.8 per cent rise in standalone net profit at Rs 1,576.21 crore for the quarter ended June 30, on the back of higher revenues.
The net profit during the corresponding quarter of the previous fiscal was Rs 1,448.26 crore, Power Finance Corporation (PFC) said in a regulatory filing.
  The total income of the company was at Rs 6,755.39 crore, registering an increase of 15.3 per cent.
  Total expenses during the quarter increased to Rs 4,465.77 crore, over Rs 3,857.75 crore in the year-ago period.
  The loan assets increased by 13 per cent to Rs 2,21,333 crore from 1,95,191 crore in the year-ago period, PFC said.
  "Net worth (Share Capital + All Reserves) increased by 17 per cent to Rs 33,721 crore from Rs 28,917 crore," said an investor's presentation.
  PFC shares closed at Rs 243.45 apiece on BSE, up 1.76 per cent from the previous close.
  PFC is engaged in funding of various power projects in generation, transmission, and distribution sectors.
  Government's 5 per cent stake sale in power sector lender PFC recently was lapped up by investors, fetching about Rs 1,600 crore to the exchequer.