Power Finance Corporation Reports Robust Financial Performance in Q4 FY24๐
State-run Power Finance Corporation (PFC) recently released its financial results for the quarter ended March 31, 2024, showcasing impressive growth in profits. Here are the key highlights from PFC’s latest financial report:
Consolidated Net Profit:
- PFC reported a consolidated net profit of Rs 5,624 crore for Q4 FY24, marking a 20% increase from the previous year’s figure of Rs 4,677 crore.
- The sequential growth in net profit was 19% compared to the October-December quarter’s result of Rs 4,727 crore.
Revenue Performance:
- The total consolidated revenue from operations for the quarter stood at Rs 24,141 crore, reflecting a 20% growth over the year-ago period’s revenue of Rs 20,061 crore.
- On a quarter-on-quarter basis, revenue increased by 2.4%, reaching Rs 23,572 crore in Q3 FY24.
Full-Year Financial Results:
- For the entire financial year 2023-24, PFC recorded a consolidated profit after tax (PAT) of Rs 19,761 crore, marking a 24% year-on-year (YoY) jump from FY23’s figure of Rs 15,889 crore.
- Total revenue from operations in FY24 amounted to Rs 91,097 crore, showing a 17% increase over FY23’s revenue of Rs 77,568 crore.
Dividend Declaration:
- The PFC board announced a final dividend of Rs 2.50 per equity share for the financial year ended March 31, 2024, in addition to interim dividends of Rs 11 per equity share declared and paid during the year in three tranches.
Market Performance and Future Outlook:
- Following the earnings announcement, PFC’s stock price surged by over 4% to Rs 441.40 on the NSE during market hours.
- PFC managed to reduce its expenses sequentially to Rs 14,579 crore in Q4 FY24, although the expense was higher on a YoY basis at Rs 12,312 crore.
- PFC has been a high-performing stock, delivering 218% returns over a 1-year period, significantly surpassing the Nifty’s returns of 21% during the same period.
It is important to note that these financial results demonstrate PFC’s solid performance and growth trajectory in the power finance sector.
Hot Take: Assessing PFC’s Financial Milestones and Market Impact ๐
As PFC continues to achieve significant financial milestones and secure a strong market position, investors in the crypto space should closely monitor the company’s performance and growth prospects to make informed investment decisions. The consistent growth in profits, robust revenue figures, and positive market response to PFC’s financial results indicate a promising future for the company and potential opportunities for investors seeking exposure to the power finance sector.
Cindy Dutta emerges as a polymath of the crypto realm, seamlessly blending the roles of analyst, researcher, and editorial virtuoso. Navigating the intricate labyrinth of cryptocurrencies, Cindy unfurls intricate patterns of digital assets, resonating harmoniously with minds of all kinds. Her knack for unraveling enigmatic crypto intricacies intertwines effortlessly with her editorial finesse, transmuting complexity into an immersive symphony of comprehension. A guiding star for both seasoned explorers and neophytes treading the cryptic waters, Cindy’s insights forge a compass for informed decision-making amidst the ever-shifting currents of digital finance. With the precision of a craftsman, they craft a narrative that enriches the evolving mosaic of the crypto landscape.
