Business EconomyPosted at: Aug 13 2020 8:57PM

Power Finance Corporation Q1 net profit up by 23 pc

New Delhi, Aug 13 (UNI) The state-run Power Finance Corporation on Thursday announced a 23 per cent rise in consolidated net profit at Rs 3,557.23 crore during the first quarter of Financial Year 2021.
The company had posted a net profit of Rs 2,899.74 crore during the same quarter a year ago.
According to an official statement here, there was 16 per cent increase in Consolidated Revenue from Operations with Consolidated Revenues at Rs 16,914 crore for Q1 2021 against Rs 14,595 crore for Q1 2020.
There was reduction in consolidated net NPA ratio from 4.20 per cent in Q1'20 to 3.15 per cent in Q1'21, due to resolution of stressed assets.
The Net NPA dropped by 124 bps from Q1'20, due to resolution of two stressed assets - Essar Power Transmission Ltd and Suzlon Energy Ltd.
The Net NPA ratio as on June 30, 2020 is at 3.41 per cent, compared to 4.65 per cent in Q1'20, lowest in the past four years.
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Power Finance Corporation Q1 net profit up by 23 pc

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