Power Finance Corporation records 12 percent decline in December quarter profit

The state-run Power Finance Corporation (PFC) has recorded a sharp decline of 12% in its consolidated net profit at Rs 3,386.72 crore in the December quarter of 2019.

In a filing with the exchange, PFC said that “The company consolidated net profit was declining by 12 percent at Rs 3,386.72 in the December quarter of 2019, as compared to Rs 3,876 crore in the same quarter a year ago.”

“The total income of the company rose to Rs 15,873.14 crore during the October-December, against Rs 14,045.26 crore in the same quarter a year ago,” the filing added.

Highlighting the YoY profit, the company in the filing said, “The consolidated net profit stood at Rs 8,783.55 crore compared to Rs 9,249.1 crore a year ago.”