Power Finance Corp Q2 net marginally up at Rs 1,887 cr

New Delhi Nov 3 (IANS) State-run Power Finance Corporation (PFC) on Friday posted a marginal rise of 0.7 per cent in its net profit for the second quarter ending September at Rs 1 886.59 crore compared with last year.

The company had registered a net profit of Rs 1 873.42 crore in the same quarter of 2016-17 the company said in a stock exchange filing.

The company s total income increased to Rs 7 108.57 crore during the quarter under consideration from Rs 6 999.76 crore in the same period a year ago.

Interest income during the second quarter was Rs 6 897.06 crore marginally higher than Rs 6 856.90 crore in the same period a year ago.

For the quarter under consideration PFC made a provision of Rs 1 089.86 crore for non-performing assets (NPAs) or bad loans which was higher than the provisioning of Rs 313.36 crore made during the July-September period last year.

The PFC board on Friday also approved payment of interim dividend for 2017-18 at the rate of Rs 6 per equity share on the face value of the paid-up equity shares of Rs 10 each

The date of dispatch of dividend shall be on or before December 2 while the interim dividend payout will be Rs 1 584.05 crore the statement said.

The PFC stock closed on Friday at Rs 142.35 a share down Rs 2.90 or 2 per cent on its previous close on the BSE.

--IANS
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