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PFCL declares robust financial performance for Q1..


Ankur Bhattacharya

Kolkata, Aug 13 (HS) : Public sector Power Finance Corporation Limited (PFCL) has recorded 23 percent jump in consolidated Profit After Tax during the first quarter of the current financial year (2020-21) to Rs 3,557 crore, up from Rs 2,900 crore during the corresponding period of last year. 

Announcing the first quarter - April to June - financial results of India's leading NBFC company today, company sources here said that during the period the Consolidated Revenue from Operations was also increased by 16 per cent to Rs 16,914 crore from the Consolidated Revenues of Rs 14,595 crore during Q-1 of last year.

As on June 30 this year consolidated net NPA ratio was reduced  from 4.20 per cent a year ago to 3.15 per cent due to resolution of stressed assets.

Similarly the Net NPA margin also dropped by 124 basis points from Q1 last year due to resolution of two stressed assets namely Essar Power Transmission Limited and Suzlon Energy Limited, the sources said adding Net NPA ratio as on June 30 this year stood at 3.41 per cent against 4.65 per cent in Q1’20, the lowest in last 4 years.

As a result of such all round performance the Standalone Profit of PFCL also increased by 23 per cent to Rs 1,700 crore, up from Rs 1,383 crore in Q1’20, they said. 

Hindusthan Samachar