Power Finance Corp net dips 17% in Q1

New Delhi Aug 10 (IANS) Power Finance Corp Ltd (PFCL) on Thursday reported a standalone net profit of Rs 1 429 crore for the first quarter (Q1) of fiscal 2017-18 registering a 17 per cent annual decline from Rs 1 713 crore in the same period year ago.

In a regulatory filing to the BSE the state-run company said the annual standalone revenue from operations for Q1 was 4 per cent lower at Rs 6 780 crore from Rs 7 072 crore in the like period a year ago.

Operating profit also declined 14 per cent to Rs 2 153 crore from Rs 2 490 crore a year ago.

Sequentially net profit and operating profit returned to black in Q1 from Rs 3 410 crore net loss and Rs 2 863 crore operating loss while income from operations increased 23 per cent from Rs 5 514 crore a quarter ago.

--IANS
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