Net Interest Income (NII) for the quarter stood at ₹4,237 crore, which is flat compared to the December quarter and up 22% compared to the same period last year.
Revenue for the quarter went up by 20.2% from last year to ₹12,243.7 crore.
Net profit for the quarter was also aided by a 32.6% jump in other income to ₹755.4 crore. There was also a write-back of provisions worth ₹337 crore, compared to an outgo of ₹262.6 crore in the December quarter and a write-back of ₹494.2 crore in the year-ago quarter.
PFC’s asset quality improved on a sequential basis. Gross Non-Performing Assets (NPA) for the quarter stood at 3.34% compared to 3.52% in the December quarter.
Net NPA for the quarter also improved to 0.85% from 0.9% in the December period.
Additionally, the company has also declared a final dividend of ₹2.5 per share for financial year 2024. The company had already paid out dividends worth ₹11 per share so far this financial year.
Shares of PFC are trading 3.8% higher post the earnings announcement at ₹438. The stock is up 11% so far in 2024 but was the second-best performer on the Nifty PSE index in 2023, with gains of 240%.
To be updated with management commentary post 1:30 PM.
First Published:Â May 15, 2024 12:33 PM IST
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