Power Finance Corporation just dropped their FY 2023-24 financial results and it’s lit. They’re flexing with the highest annual profit ever, up by a whopping 25%, going from ₹21,179 crores in FY’23 to a sick ₹26,461 crores in FY’24. PFC Group’s got the biggest balance sheet in the game, smashing past ₹10 lakh crore, hitting ₹10.39 lakh crore this year.
Their loan asset book’s also on fire, jumping 16% from ₹8,57,500 crores to ₹9,90,824 crores. Plus, their net worth shot up by 20%, from ₹1,11,981 crores to ₹1,34,289 crores. They cleaned up their act too, with gross NPAs dropping to 3.02% from 3.66% and net NPAs hitting a low of 0.85%.
On the solo front, PFC’s killing it as India’s top profit-making NBFC, with their standalone profit after tax soaring 24% from ₹11,605 crores to ₹14,367 crores. Their quarterly PAT also rose 18%, from ₹3,492 crores in Q4’23 to ₹4,135 crores in Q4’24. They’re treating shareholders with a final dividend of ₹2.50 per share, making it ₹13.50 per share for FY’24.
Loan assets grew 14%, climbing from ₹4,22,498 crores to ₹4,81,462 crores. The renewable loan book’s on a roll too, spiking 25% year on year to ₹60,208 crores. PFC’s the king of renewable lending in India. Their capital adequacy ratio is solid at 25.41%, with Tier 1 capital at 23.18%. Net worth’s up 16%, from ₹68,202 crores to ₹79,203 crores. And their asset quality’s top-notch, with net NPAs down to 0.85%, the lowest in six years, and gross NPAs down to 3.34%.
PFC’s Chairperson and MD, Parminder Chopra, is hyped about their record profits and solid performance. She’s all about maximising shareholder value, pushing for the clean energy revolution, and sees PFC leading the charge in India’s power and infrastructure scene.
