PFC Group reported PAT of Rs. 18,905 crores in 9M’24 vis-à-vis Rs. 15,050 crores in 9M’23, an increase of 26%. Consolidated Net worth (including non-controlling interest) increased by 20% from Rs. 1,06,143 crores as on 31.12.2022 to Rs. 1,27,841 crores as on 31.12.2023.
19% growth registered in consolidated loan asset book from Rs. 8,04,526 crores as on 31.12.2022 to Rs.9,54,483 crores as on 31.12.2023 Owing to concentrated resolution efforts, consolidated Net NPA has reached its lowest level at 0.86% in 9M’24 from 1.15% in 9M’23. Gross NPA also declined significantly by 78 bps from 3.91% in 9M’23 to 3.13% in 9M’24.
PFC Group is the nodal agency for the implementation of Late Payment Surcharge Rules. With the implementation of these rules, there has been more than 60% reduction in the legacy dues which were payable by Discoms to the Generation companies. Under this, to date, the PFC group has cumulatively disbursed
Rs. 74,073 crores.
Stand Alone Financial Highlights
- 26% notable increase registered in Standalone Profit After Tax from Rs. 8,113 crores in 9M’23 to Rs. 10,232 crores in 9M’24.
- 12% increase in Standalone Profit After Tax from Rs. 3,005 crores in Q3’23 to Rs. 3,377 crores in Q3’24.
- In Q3’24, PFC board declared an interim dividend of Rs.3.5 per share, bringing the cumulative interim
dividend to Rs. 8 per share. - 1.7 times impressive increase in disbursements-from Rs. 46,968 crores in 9M’23 to Rs. 79,049 crores in
9M’24, driven by disbursements in the distribution sector and renewable energy sector . - Double-digit growth of 16% witnessed in loan asset book- from Rs. 3,93,387 crores as on 31.12.2022 to
Rs.4,57,027 crores as on 31.12.2023. - CRAR as on 31 st Decmeber,2023 is at 26.86%, with Tier 1 capital at 24.28%. PFC continues to have
comfortable capital adequacy levels. - 18% increase in net worth from Rs. 65,289 crores as on 31.12.2022 to Rs. 76,780 crores as on 31.12.2023.
- In Q3’24, PFC successfully reached resolution in Dans Energy loan of Rs. 413 crores. With this, PFC’s Net
NPA ratio reaches below 1% and is at 0.90%- the lowest level in last 6 years.
Ms. Parminder Chopra,CMD with an additional charge of Director (Finance), PFC said that we have been declaring all-time high profits period on period. We have achieved 26% Y-o-Y jump in 9M’24 Profit After Tax coupled with impressive double-digit loan growth of 16%. This further underscores our commitment to consistent performance. This New Year brings along with it fresh possibilities for PFC. We are excited to venture into IFSC GIFT City by establishing our wholly-owned subsidiary. This is a historic milestone for PFC. This strategic decision will expand our business horizon and help in taking the PFC brand global.
. Ms Chopra said that the recently announced Suryodaya Yojana initiative will also create additional lending opportunities for PFC across the entire solar value chain, including equipment manufacturing. This initiative will enhance our growth prospects in the coming years while aligning with theGoI’s vision for making India self-reliant in the energy sector.
