Power Finance Corporation‘s assets under management increased, contributing to a 25% increase in its consolidated net profit of Rs 26,461 crore in FY24. The profit for the March quarter increased 23% year over year to Rs 7,556 crore at msn.com
In FY24, the company’s consolidated loan asset book increased 16% year over year to Rs 9.9 trillion. While disbursements increased from Rs 85,756 crore in FY23 to Rs 1.3 trillion in FY24, the standalone loan asset book saw a year-over-year increase of 14% to Rs 4.8 trillion at msn.com
As of March 31, the renewable book increased 25% year over year to Rs 60,208 crore among particular segments. In the previous fiscal year, the portfolio of big hydro projects was valued at Rs 16,095 crore, while the portfolio of conventional generating was at Rs 1.7 trillion at msn.com
The difference between interest generated and interest spent, or net interest income, increased to Rs 15,627 in 2023–24 from Rs 14,362 crore in the previous year. One year later, the net interest margin increased to 3.46% from 3.36%.
As of March 31, the company’s portfolio of 54 EC bonds, or capital gain bonds, had increased by 36% to Rs 8,994 crore. As of March 31, the consolidated gross non-performing asset ratio decreased from 3.66% to 3.02%.
As of March 31, 2019, the company’s stressed asset book was Rs 16,073 crore, down from Rs 29,540 crore. A settlement is in progress for assets valued at Rs 2,898 crore. This comprises the Rs. 2,376 crore Lanco Amarkantak project and the Rs. 522 crore Shiga Energy project.
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Major projects that are being resolved outside of the National Company Law Tribunal include TRN Energy and Shiga Energy at msn.com
The total amount of outstanding debt is Rs 4.1 trillion. Seventy-seven percent of all borrowings are made up of foreign currency and domestic bonds.
As of March 31, the capital-to-risky asset ratio had increased from 24.37% to 25.4% at msn.com
For FY24, the business would pay out a total dividend of Rs 13.50 per share.
Chairman and managing director Parminder Chopra stated that 25% of the company’s loans are for projects that are currently being implemented and that the RBI draft project financing criteria will not have an effect on the company’s profitability during the news conference held in response to the results. Of these 25%, projects with a longer tenor are under development in 45% of cases at msn.com
The company anticipates a growth in assets under management of between 12 and 15 percent for the current fiscal year. For the quarter, a net interest margin of three to five percent is anticipated.
Net profit increased from Rs 11,605 crore to Rs 14,367 crore in 2023–24 on a stand-alone basis.
With a total balance sheet size of more than Rs 10 trillion in 2023–2024, the PFC group is the largest non-banking financial company (NBFC) group in India.
