Power Finance Corp.'s net profit rose for the first quarter of fiscal 2025.
The lender's standalone net profit increased 23.6% year-on-year to Rs 3,718 crore, according to an exchange filing on Tuesday. Analysts polled by Bloomberg had estimated a net profit of Rs 16,595 crore.
Total income for the lender rose 17.5% year-on-year to Rs 11,916 crore, as against Rs 10,142 crore reported in the same quarter in the previous year.
PFC has also declared the first interim dividend for this financial year at Rs 3.25 per share. The company announced distribution of Rs 1,072 crore to shareholders in the fourth quarter of the previous fiscal.
The company has set Sep. 5 as the date of payment and dispatch for the interim dividend.
In comparison the company had issued a final dividend of Rs 2.50 apiece on July 26. It gave a dividend of Rs 3 on March 22.
Shares of the company closed 4.82% lower at Rs 474.05 apiece, as compared to a 2.65% decline in the NSE Nifty 50. The stock has risen 20% year-to-date and 122.06% over the past 12 months.
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