Power Finance Corporation Q1 profit up 31% pc to Rs 5,982 cr

New Delhi: State-owned Power Finance Corporation (PFC) on Friday posted nearly 31 per cent rise in consolidated net profit at Rs 5,982.14 crore for June quarter FY24.

The company logged a profit of Rs 4,579.53 crore in April-June FY23, a BSE filing said.

Total income rose to Rs 21,001.44 crore in the quarter from Rs 18,544.04 crore in the same period a year ago.

The board approved a proposal to issue bonus shares to the shareholders in the ratio of 1:4, i.e. 1 bonus share of Rs 10 each fully paid-up for every 4 existing shares of Rs 10 each fully paid-up by capitalizing a sum not exceeding Rs 660.02 crore.

The company's board also decided to defer the proposal to declare interim dividend for FY24.