MUMBAI, 13 AUGUST, 2020 (GPN):

• 23% increase in consolidated Profit After Tax from Q1’20 – PAT at ₹ 3,557 crore for Q1’21 vs. ₹ 2,900 cr. for Q1’20
• 16% increase in Consolidated Revenue from Operations from Q1’20 – Consolidated Revenues at ₹ 16,914 cr. for Q1’21. Vs.14,595 cr. for Q1’20
• Reduction in consolidated net NPA ratio from 4.20% in Q1’20 to 3.15% in Q1’21 due to resolution of stressed assets.
• Net NPA drops by 124 bps from Q1’20 due to resolution of two stressed assets i.e. Essar Power Transmission Ltd. & Suzlon Energy Ltd. Net NPA ratio as on 30.06.2020 is at 3.41% vs. 4.65% in Q1’20, the lowest in past 4 years
• 23% jump in Standalone Profit after Tax from Q1’20 – PAT at ₹ 1,700 cr. for Q1’21. Vs ₹1,383 cr. Q1’20

Government owned Power Finance Corporation Ltd., one of India’s leading NBFC companies, today announced its financial results for the quarter ended 30th June 2020.

PERFORMANCE HIGHLIGHTS:

CONSOLIDATED

• 23% increase in consolidated Profit After Tax from Q1’20 – PAT at ₹ 3,557 cr. for Q1’21 vs. ₹2,900 cr. for Q1’20
• 16% increase in Consolidated Revenue from Operations from Q1’20 – Consolidated Revenues at ₹ 16,914 cr. for Q1’21. Vs.14,595 cr. for Q1’20
• Reduction in consolidated net NPA ratio from 4.20% in Q1’20 to 3.15% in Q1’21 due to resolution of stressed assets.
• Comfortable capital levels to support future growth – Consolidated CRAR at 16.48% as on 30.06.2020

STANDALONE

• Net NPA drops by 124 bps from Q1’20 due to resolution of two stressed assets i.e. Essar Power Transmission Ltd. & Suzlon Energy Ltd. Net NPA ratio as on 30.06.2020 is at 3.41% vs. 4.65% in Q1’20, the lowest in past 4 years
• 23% jump in Standalone Profit after Tax from Q1’20 – PAT at ₹ 1,700 cr. for Q1’21. Vs ₹1,383 cr. Q1’20
• 16% increase in Interest Income from Q1’20 – Interest Income at ₹ 8,749 cr. for Q1’21 vs.7,531 cr. Q1’20
• Gross NPA ratio saw a drastic reduction of 211 bps from Q1’20. The current GNPA ratio is at 7.50% against 9.61% in Q1’20.
• Even in a challenging operating environment, key financial indicators maintained within a stable range. Net Interest Margin on earning assets for Q1’21 at 3.48% as against 3.06% in Q1’20.
• Comfortable capital adequacy levels at 17.32% having sufficient cushion over & above the prescribed regulatory limits
• Comfortable liquidity position to meet the debt obligations and future business growth

             ₹90,000 cr. liquidity support to Discoms under Aatma Nirbhar Bharat Abhiyaan

• PFC & REC has so far sanctioned more than ₹60,000 cr. under the ₹90,000 cr. Discoms liquidity support announced by the GOI under the Aatma Nirbhar Bharat Abhiyaan.

Earlier this week Government-owned Power Finance Corporation Ltd (PFC), India’s leading NBFC, had signed a MoA with District Administration of Siddharthnagar in Uttar Pradesh for construction of two Modular Operation Theatre Rooms in the District Hospital, Siddharthnagar. Under the MoA, PFC will provide financial assistance of close to Rupees Ninety Four Lakhs for execution of the Project to the District Administration, Siddharthnagar under its CSR initiative. ENDS