Power Finance Corp Q3 net profit jumps 23% to Rs 1,949 cr

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Power Finance Corp today reported an over 23 per cent surge in standalone net profit to Rs 1,949.91 crore for the third quarter ended December 31. The company had posted a net profit of Rs 1,582.32 crore for the corresponding quarter of last fiscal, PFC said in a BSE filing today. According to the statement, total income has increased to Rs 7,063.08 crore in the quarter under review, from Rs 6,994.10 crore in the same period last fiscal.

It also informed the BSE about the non-performing asset provision of Rs 51.19 crore for the current quarter and Rs 475.50 crore for the nine months ended on December 31, 2016.

It also stated that the Gross NPA stood at Rs 7,302.67 crore as on December 31, 2016, whereas it was Rs 7,520.21 crore on March 31, 2016.