PFC Q2 Results | Net profit up 9% to ₹7,215 crore, revenue rises 15%; declares dividend

State-owned Power Finance Corporation Ltd (PFC) on Friday (November 8) reported an 8.9% year-on-year (YoY) increase in net profit at ₹7,215 crore for the second quarter that ended September 30, 2024.

In the corresponding quarter of the previous fiscal, Power Finance Corporation posted a net profit of ₹6,628.2 crore, the company said in a regulatory filing. The company's revenue from operations increased 15% to ₹25,721.8 crore as against ₹22,374.6 crore in the corresponding period of the preceding fiscal.

At the operating level, EBITDA was up 10.5% to ₹25,354.2 crore in the second quarter of this fiscal over ₹22,942.4 crore in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation.

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The board has declared a second interim dividend of @ ₹3.50 per equity share (i.e. @ 35%) (subject to deduction of TDS) on the face value of the paid-up equity shares of 10 each for the FY 2024-25.

Further, it is to inform you that Monday (September 25, 2024) will be reckoned as the 'Record Date' to ascertain the eligibility of shareholders for payment of the second interim dividend for the FY 2024-25. The date of payment of the second interim dividend shall be on or before December 8, 2024.

The results came after the close of the market hours. Shares of Power Finance Corporation Ltd ended at ₹450.70, down by ₹11.20, or 2.42% on the BSE.

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