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.
Standalone
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.
Consolidated
FY 21 vs FY 20
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.
