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PFC posts 23% jump in consolidated PAT

Stable financial indicators despite challenging times

On standalone basis, the net NPA dropped by 124 bps from Q1’20 due to resolution of two stressed assets i.e. Essar Power Transmission Ltd. & Suzlon Energy Ltd.

 

NEW DELHI, Aug 13, 2020:  Power Finance Corporation Ltd a today reported a 23% increase in consolidated Profit After Tax and 16% increase in consolidated revenue for the quarter ended 30th June 2020.

The company’s PAT for Q1’21 stood at at ₹ 3,557 cr. against ₹2,900 cr. for Q1’20. Its Consolidated Revenues were ₹ 16,914 cr. for

PFC’s consolidated net NPA ratio reduced from 4.2% in Q1’20 to 3.15% in Q1’21 due to resolution of stressed assets.

On standalone basis, the net NPA dropped by 124 bps from Q1’20 due to resolution of two stressed assets i.e. Essar Power Transmission Ltd. & Suzlon Energy Ltd.

The company recorded a 23% jump 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 were maintained within a stable range.

PFC sanctioned ₹90,000 cr. liquidity support to Discoms under Aatma Nirbhar Bharat Abhiyaan

 

 

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