Power Finance Corporation (PFC) on Friday posted a 23 per cent rise in its consolidated net profit at Rs 14,483 crore for the nine months of FY22, ended December 2021, compared with Rs11,810 crore during the year-ago period, mainly due to higher revenue. 

The consolidated total income during the nine months under review rose by 7 per cent to Rs 57,409 crore over the consolidated total income in the corresponding period last year.

The power sector financier’s consolidated net interest income increased by 16 per cent Rs 22,843 crore as against Rs 19,678 crore in the year-ago period.

The company’s standalone profit after tax (PAT) or net profit for the nine months of FY22, ended December 2021, shot up by 21 per cent Rs 7,412 crore compared to Rs 6,117 crore recorded in the same period last year.

PFC declared an interim dividend of Rs 6 per share for the Q3 of FY22. With this, the company has so far paid an interim dividend of Rs 10.75 per share. 

The power sector financier’s Credit to Risk-Weighted Assets Ratio (CRAR) has been healthy in the past few quarters. The company’s CRAR was 22.68 per cent, with its Tier-I capital of 19.07 per cent and its Tier-II capital of 3.61 per cent as on December 31, 2021. 

PFC was recently awarded the prestigious Institute of Chartered Accountants of India Silver Award for Excellence in Financial Reporting in the public sector entities category for 2020-21.