Power Finance Corp Q3 net up almost 3 percent

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New Delhi, Feb 9 (IANS) State-run Power Finance Corporation Ltd (PFCL) on Tuesday reported a standalone net profit growth of 2.60 percent at Rs.1,582 crore for the third quarter of 2015-16 as against Rs.1,542 crore in the same period of last fiscal.

In a stock exchange filing, the company also said that total income for the quarter in consideration increased to Rs.6,994 crore from Rs.6,378 crore for the corresponding quarter a year ago.

For nine months of the fiscal up to December 31, 2015, the company reported a standalone net profit jump of 10.34 percent at Rs.4,853 crore over the same period of last fiscal.

The company’s net interest income for the quarter grew over the same quarter last year by 6.28 percent at Rs.2,368.67 crore, but declined by 14.47 percent compared to the previous quarter.

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Consolidated earnings per share (EPS) for the quarter in question stood at Rs.11.99.

The PFCL board of directors on Tuesday declared payment of the second interim dividend at Rs.4.50 per equity share for 2015-16.

PFCL stock closed trading on Tuesday at Rs.171.60 a share, down 8.85 points, or 4.9 percent, on its previous close on the Bombay Stock Exchange (BSE).

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