The News Scroll 03 November 2017  Last Updated at 4:55 pm | Source: PTI

PFC Q2 profit at Rs 1,886.59 cr

PFC Q2 profit at Rs 1,886.59 cr

New Delhi, Nov 3 (PTI) State-run Power Finance Corp's standalone net profit rose by 0.7 per cent at Rs 1,886.59 crore in the quarter ended on September 30, 2017 compared to year ago.

The company's standalone net profit for the quarter ended on September 30, 2016 was Rs 1,873.42 crore, the company said in a BSE filing.

Apart from approving the financial results for second quarter the company's board also approved payment of interim dividend at the rate of Rs 6 per equity share on the face value of the paid-up equity shares of Rs 10 each for 2017-18 in its meeting held.

The date of payment/dispatch of dividend shall be on or before December 2, 2017. The interim dividend payout will be Rs 1,584.05 crore.

According to the statement, total income of the company rose to Rs 7,108.57 crore in the second quarter from Rs 6,999.76 crore in the year-ago quarter.

The interest income of the company was Rs 6,897.06 crore in the quarter, slightly up from Rs 6,856.90 crore year ago.

The company has made a provision of Rs 1,089.86 crore for non-performing assets (NPAs or bad loans) in the quarter, which is higher than Rs 313.36 crore year ago.

The company's gross NPAs as on September 30, 2017 stood at Rs 21,504.44 crore, down from Rs 30,718.61 crore on March 31, 2017.

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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