New Delhi (12.08.2021): PFC posted an impressive 28 percent jump in its consolidated net profit, reaching Rs 4,554.98 crore in the June 2021 quarter from Rs 3,557.23 crore in the quarter ended June 30, 2020.

This was mainly due to the rise in total income in the quarter to Rs 18,973.93 crore from Rs 16,932.24 crore.

Sharing this news, PFC chairman RS Dhillon announced a board-approved interim dividend of Rs 2.25 per equity share (subject to deduction of TDS) on the face value of the paid-up equity shares of Rs 10 each for FY22.

The 'Record Date' for the purpose of ascertaining the eligibility of shareholders” for receiving payment of interim dividend for FY22 will be September 1, 2021.

The capital adequacy ratio of the company was 21.16 percent as of June 30, 2021, which provided a sufficient cushion over and above the prescribed regulatory limits, the company said in a statement.

To fortify the balance, provisioning coverage on Stage III (NPA or bad loan) Assets were enhanced to 65 percent, resulting in the lowest net NPA (bad loan) levels of 2 percent in the past 3 years.

Revamped Distribution Sector Scheme with an outlay of Rs 3,03,758 crore provides significant business opportunity to the PFC going forward.

PFC along with our subsidiary REC has been designated as nodal agencies for

Dhillon said "we are glad to be a strategic partner with GoI (Government of India) for implementation of Revamped Distribution Sector Scheme, which is a step forward in creating sustainable discoms. The scheme also presents us a good opportunity to grow our business further".

Parminder Chopra, Director (Finance) PFC, said, "I am happy to say that our financial performance has been good, with robust revenues and profitability. As we look forward to an increasingly normal environment, we are committed to delivering strong performance in the future also. Taken together, the business opportunities going forward and the strength of our business presents a promising picture for PFC’s future.”