PFC profit rises 34% to Rs 2,274 crore in Q1FY22

State-owned Power Finance Corporation (PFC) has reported a net profit of Rs 2,273.6 crore for the quarter ended June 30 on a standalone basis, recording a year-on-year (y-o-y) rise of 33.8% on the back of higher interest income and lower cost of funds.

PFC’s net interest income increased 14.7% annually to Rs 3,525 crore in Q1FY22, while cost of funds fell by 25 basis points (bps) to 7.43% in the same period. State-owned entity has declared an interim dividend of Rs 2.25 per share for FY22.