State-owned non-banking financial firm Power Finance Corporation (PFC) records highest ever net profit of Rs 8,444 crore for FY 21, up 49 per cent on Y-o-Y basis.
- Highest annual PAT of Rs 8,444 crore.
- Approximately 49 per cent jump in Standalone Profit After Tax from FY 20.
- Around 28 per cent increase in net interest income from FY 20.
- Dividend of Rs 2 declared per share. Thus, in FY 21, PFC has given a total dividend of Rs 10 per share i.e. 100 per cent.
- Aided by profit growth, company’s net worth for FY 21 is up by 16 per cent to Rs 52,393 crore and has crossed the fifty thousand mark.
- Around 25 per cent Stressed Book Resolved in FY 21:
- Gross NPA ratio saw a sharp reduction of 238 bps from FY 20. The current GNPA ratio is at 5.70 per cent against 8.08 per cent in FY 20.
- Lowest Net NPA levels in past four years. Net NPA ratio saw a sharp reduction of 171 bps from FY 20. The current Net NPA ratio is at 2.09 per cent against 3.80 per cent in FY 20.
- The Capital Adequacy Ratio of the company has also improved sequentially to 18.83 per cent as on March 31, 2021. The capital adequacy is at a comfortable level with sufficient cushion over and above the prescribed regulatory limits.
- Around 66 per cent increase in consolidated profit after tax from FY 20. PAT at Rs 15,716 crore for FY 21 vs Rs 9,477 crore for FY 20.
- Loan Asset book grows at 12 per cent. For FY 21, it was at Rs 7,45,189 crore and for FY 20, it was at Rs 6,67,330 crore.
- Reduction in consolidated net NPA ratio to 1.91 per cent in FY 21 from 3.57 per cent in FY 20 due to resolution of stressed assets.
- Reduction in consolidated gross NPA ratio to 5.29 per cent in FY 21 from 7.36 per cent in FY 20 due to resolution of stressed assets.