PFC's Financial Boost: Profit Rises Despite Declining Income
State-owned Power Finance Corporation reported a net profit increase to Rs 8,597.61 crore in the March quarter, marking a 3% rise. This gain occurred despite a fall in total income caused by reduced expenses. PFC remains a prominent non-banking financial corporation under the Ministry of Power.
In the latest financial update, the Power Finance Corporation (PFC), a state-owned entity, reported a notable 3% rise in its consolidated net profit, reaching Rs 8,597.61 crore for the March quarter. This positive outcome was driven by a reduction in expenses, according to a recent company exchange filing.
Despite the profit increase, PFC faced a decline in total income, which fell to Rs 28,856.60 crore from Rs 29,285.45 crore noted in the previous year's fourth quarter. Meanwhile, the company managed to trim its expenses to Rs 17,764.79 crore, down from Rs 18,730.86 crore in the final quarter of FY25.
Operating under the Ministry of Power, PFC continues to assert itself as a leading non-banking financial corporation, navigating economic challenges while maintaining profitability.
(With inputs from agencies.)
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