Power Finance Corporation net profit rises over 20% to Rs 7,182 cr in Q1

New Delhi: State-owned Power Finance Corporation on Tuesday posted over 20 per cent rise in its consolidated net profit to Rs 7,182.06 crore in June 2024 quarter compared to a year ago, mainly due to higher revenues.

The company reported a consolidated net profit of Rs 5,982.14 crore in the quarter ended on June 30, 2024, a regulatory filing showed.

Total income rose to Rs 24,736.68 crore in the quarter from Rs 21,017.81 crore in the same period a year ago.

The company's board also approved declaration of an interim dividend at the rate of 32.50 per cent or Rs 3.25 per equity share (subject to deduction of TDS) on the face value of the paid-up equity shares of Rs 10 each for FY25.

Further, the company informed that August 30, 2024 (Friday) shall be reckoned as the 'record date' for ascertaining the eligibility of shareholders for payment of the interim dividend, which will be paid on or before September 5, 2024.