New Delhi: State-owned Power Finance Corporation on Thursday reported a nearly 21 per cent jump in net profit at Rs 1,448.26 crore for the quarter ended June 2014, mainly due to an increase in income from operations.
The company had posted a net profit of Rs 1,198.24 crore for the corresponding quarter a year ago.
Total income of the company increased to Rs 5,923.90 crore during the quarter under review as compared to Rs 5,017.10 crore a year ago, PFC said in a statement.
The public sector lender witnessed a 17 per cent jump in net interest income to Rs 2,291 crore from Rs 1,950 crore, PFC said in a statement.
PFC sanctioned major loans worth Rs 5,329 crore during the quarter which included Rs 1,606 crore to Andhra Pradesh Power Development Corporation, Rs 1,456 crore to Tamil Nadu Generation and Distribution Corporation and Rs 1,087 crore to Jinbhuvish Power Generation.
Net non-performing assets (NPAs) of the company as on June 30, 2014 stood at 0.83 per cent of Rs 1,95,191 crore loan assets.
Shares in PFC, on Thursday, ended at Rs 265.60 apiece on the BSE, up 3.15 per cent from the previous close.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
