State-owned Power Finance Corporation Ltd.'s board of directors approved an interim dividend of Rs 3.50 per share, with a face value of Rs 10 each for the financial year 2025.
The firm has set Feb. 28, 2025 as the record date, as per an exchange filing. The payment is to be made on or before March 11, 2025.
PFC, on Wednesday, also posted its financial results for the quarter ended Dec. 31, 2024. The company posted a net profit of Rs 5,829 crore, up 23.3% from Rs 4,727 crore in the year-ago period.
The total income went up by 13.7% to Rs 26,822 crore in the third quarter, compared to Rs 23,593 crore in the year-ago period.
Power Finance Corp Q3 Highlights (Consolidated, YoY)
Total income rose 13.7% to Rs 26,822 crore versus Rs 23,593 crore.
Net interest income rises 16.3% to Rs 9,840 crore versus Rs 8,456 crore.
Net profit rose 23.3% to Rs 5,829 crore versus Rs 4,727 crore.
Incorporated in 1986, PFC is engaged in infrastructure finance activities. It was established with a focus on financing large-scale power projects and overseeing the development of power and related industries.
Shares of PFC were trading 0.88% lower at Rs 372.20 apiece on the NSE, compared to a 0.19% decline in the benchmark Nifty 50 index at 2:22 p.m. The stock has fallen by about 10.61% in the last 12 months.
Twelve analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies an upside of 57.5%.
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