PFC Group Clocked the Highest Annual Profit After Tax (PAT) with a 13 percent Increase from Rs. 18,768 Cr. in FY’22 to Rs. 21,179 Cr. in FY’23

Power Finance Corporation (PFC) on Saturday posted an over 44 per cent bounce in its consolidated web revenue to Rs. 6,128.63 crore in March quarter, primarily on the again of upper revenues. The consolidated web revenue of the firm was Rs. 4,295.90 crore in the quarter ended on March 31, 2022.

Consolidated (*13*)

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  PFC group clocked the highest annual Profit After Tax (PAT) with a 13% enhance from Rs. 18,768 cr. in FY’22 to Rs. 21,179 cr. in FY’23.

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  The consolidated web value (together with non-controlling curiosity) jumped by 16%, owing to enhance in income. As on 31^st March, 2023, the consolidated web value stands at Rs. 1,11,981 cr. vs. Rs. 96,275 cr. as on 31^st March, 2022.

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  Consolidated mortgage asset ebook grew by 13% – Rs. 8,57,500 cr. as at 31^st March, 2023 vs. Rs. 7,58,496 cr. as at 31^st March, 2022.

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  The asset high quality has additional improved with Gross NPA ratio under 4% at 3.66% in FY’23 vs. 5.02% in FY’22.

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  The consolidated Net NPA ratio almost touches 1% and stands at 1.03% in FY’23 vs. 1.60% in FY’22.

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  On the distribution aspect, in FY23, PFC group has collectively sanctioned Rs. 1,05,566 cr. and disbursed Rs. 32,909 cr. underneath Late Payment Surcharge Rules. LPS was launched in June 2022 to scale back the mounting dues of Discoms and in lower than a yr of its introduction, the excellent dues of Discoms to Gencos have decreased by greater than 40%. This displays the PFC group function in strengthening of the distribution sector.

Standalone (*13*)

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  PFC breaks one other report with the highest ever Annual PAT of Rs. 11,605 cr. in FY’23, a important enhance of 16% from Rs. 10,022 cr. in FY’22.

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  Final Dividend of Rs. 4.50 per share proposed by Board in This fall’23. Thus, thus far PFC has given a whole dividend of Rs. 13.25 per share for FY23.

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  Quarterly PAT witnessed a notable 34% enhance from Rs. 2,609 cr. in This fall’22 to Rs. 3,492 cr. in This fall’23.

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  15% enhance in web value from Rs. 59,350 cr. as at 31^st March, 2022 to Rs. 68,202 cr. as at 31^st March, 2023. This displays sustainable monetary efficiency yr on yr.

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  PFC continues to keep CRAR at wholesome ranges. CRAR as on 31.03.2023 is at 24.37%, with Tier I capital at 21.61% & Tier II capital at 2.76%.

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  67% enhance in disbursement, a substantial uptick from earlier monetary yr – Rs. 85,756 cr. disbursed in FY’23 as in contrast to Rs. 51,242 cr. in FY’22.

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  The mortgage asset ebook elevated by 13% and likewise crossed the Rs. 4 lakh crore mark. The Loan Book stands at Rs. 4,22,498 cr. as on 31.03.2023 in contrast to Rs. 3,73,135 cr. as on 31.03.2022.

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  The Net NPA ratio reached its lowest ranges in the final 6 years, nearly touching 1%. The Net NPA ratio for FY’23 stood at 1.07%, a lower of 69 foundation factors from 1.76% in FY’22

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  In FY23, PFC has sanctioned Rs. 47,906 cr. and disbursed Rs. 16,764 cr. to Discoms for clearance of dues underneath the Late Payment Surcharge (LPS) Rules.

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  To facilitate future enterprise progress, PFC has signed MoUs value over Rs. 90,000 cr. with numerous state businesses in FY 22-23.

Management feedback

Mr. R.S. Dhillon, CMD Remarks – PFC CMD commented that I’m comfortable to see that PFC has efficiently regained its pre-COVID progress momentum. In FY23, we achieved substantial progress in disbursements and witnessed a outstanding double-digit enhance in our mortgage asset ebook. Furthermore, our lively decision efforts have resulted in an improved asset high quality, with the Net NPA ratio almost reaching 1%. Also, in FY23, we now have strategically diversified into the infrastructure sector, a important milestone determination positioning us for long-term enterprise progress. So far we now have sanctioned ports, refinery and e-mobility tasks.

Moreover, the energy sector is displaying indicators of enchancment. AT&C losses have decreased from 19.90% in FY20 to 16.50% in FY22. The ACS-ARR has additionally decreased from 0.79 paise per unit in FY20 to 0.40 paise in FY22. These enhancements may be attributed to the launch of excellent subsidies, clearance of presidency division dues, and the well timed issuance of tariff orders. Additionally, the introduction of the Late Payment Surcharge Rules by the authorities has proven promising outcomes, with a 40% discount in excellent dues of Discoms to Gencos inside simply 10-11 months of the scheme’s implementation.

These optimistic developments encourage us to capitalize on future alternatives as we stay dedicated to supporting the energy sector, driving infrastructure growth, and contributing to total financial progress.

Ms. Parminder Chopra, Director (Finance) Remarks – PFC Director (Finance) commented that FY23 has been the yr of resurgence for PFC. Notably, we surpassed our personal report and achieved an all-time excessive annual revenue of Rs. 11,605 cr. This excellent achievement is a testomony to our unwavering dedication to excellence and it units a strong basis for our future endeavors.