One of the leading NBFC companies Power Finance Corporation (PFC) has announced a robust first-quarter performance with 23% increase in consolidated Profit After Tax from Q1 ’20 - PAT at ₹ 3,557 crores for Q1’21 vs. ₹ 2,900 cr. for Q1’20. There has been an increase of 16% in Consolidated Revenue from Operations from Q1’20 - Consolidated Revenues at ₹16,914 cr for Q1’21 Vs.14,595 cr for Q1’20. There was a reduction in consolidated net NPA ratio from 4.20% in Q1’20 to 3.15% in Q1’21 due to the resolution of stressed assets. Net NPA drops by 124 bps from Q1’20 due to the resolution of two stressed assets i.e. Essar Power Transmission Ltd. & Suzlon Energy Ltd. Net NPA ratio as on 30.06.2020 is at 3.41% vs. 4.65% in Q1’20, the lowest in past 4 years. The 23% jump in Standalone Profit after Tax from Q1’20 - PAT at ₹ 1,700 cr for Q1’21 Vs ₹1,383 cr Q1’20. Meanwhile, PFC & REC has so far sanctioned more than ₹60,000 cr under the ₹90,000 cr. Discoms liquidity support announced by the government under the Aatma Nirbhar Bharat Abhiyaan.
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PFC announces robust Q1 performance for FY 2020-21
By IndianMandarins - 2020-08-14 10:26:00
One of the leading NBFC companies Power Finance Corporation (PFC) has announced a robust first-quarter performance with 23% increase in consolidated Profit After Tax from Q1 ’20 - PAT at ₹ 3,557 crores for Q1’21 vs. ₹ 2,900 cr. for Q1’20. There has been an increase of 16% in Consolidated Revenue from Operations from Q1’20 - Consolidated Revenues at ₹16,914 cr for Q1’21 Vs.14,595 cr for Q1’20.
There was a reduction in consolidated net NPA ratio from 4.20% in Q1’20 to 3.15% in Q1’21 due to the resolution of stressed assets. Net NPA drops by 124 bps from Q1’20 due to the resolution of two stressed assets i.e. Essar Power Transmission Ltd. & Suzlon Energy Ltd. Net NPA ratio as on 30.06.2020 is at 3.41% vs. 4.65% in Q1’20, the lowest in past 4 years.
The 23% jump in Standalone Profit after Tax from Q1’20 - PAT at ₹ 1,700 cr for Q1’21 Vs ₹1,383 cr Q1’20. Meanwhile, PFC & REC has so far sanctioned more than ₹60,000 cr under the ₹90,000 cr. Discoms liquidity support announced by the government under the Aatma Nirbhar Bharat Abhiyaan.
