Power Finance Corporation announces Financial Results for 2023-24, registers Highest Annual Profit
Power Finance Corporation announces Financial Results for 2023-24, registers Highest Annual Profit
The Power Finance Corporation announced its financial results for the financial year 2023-24, at an event held in Mumbai today, May 15, 2024.
The highlights are as given below.
Consolidated Financial Highlights
Standalone Financial Highlights
Management comments
On PFC’s performance, Chairperson and Managing Director, Smt. Parminder Chopra shared that PFC Group continues to be the largest NBFC Group in India and is also India’s highest profit-making NBFC both on a consolidated and on a stand-alone basis.
PFC achieved record profits in FY’24. Profit increased by 24% to Rs. 14,367 crores. This strong performance is backed by a 14% growth in the loan portfolio while retaining a strong asset quality. The Net NPA levels reduced from 1.07% in previous financial year to 0.85% currently.
Maximizing shareholder value remains a priority for the company. With the final dividend of Rs. 2.50 per share proposed by the Board today, the total dividend for FY’24 would be Rs. 13.50 per share.
Beyond financials, PFC leads India’s clean energy push. Its renewable loan portfolio grew 25% year on year to over Rs. 60,000 crores, solidifying its position as the leading renewable lender in India.
Looking ahead, PFC sees exciting growth in power and infrastructure, and is positioned to be a proactive partner in India’s future development.
