Power Finance Corp net dips 17% in Q1

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New Delhi, Aug 10 (IANS) Power Finance Corp Ltd (PFCL) on Thursday reported a standalone net profit of Rs 1,429 crore for the first quarter (Q1) of fiscal 2017-18, registering a 17 per cent annual decline from Rs 1,713 crore in the same period year ago.

In a regulatory filing to the BSE, the state-run company said the annual standalone revenue from operations for Q1 was 4 per cent lower at Rs 6,780 crore from Rs 7,072 crore in the like period a year ago.

Operating profit also declined 14 per cent to Rs 2,153 crore from Rs 2,490 crore a year ago.

Sequentially, net profit and operating profit returned to black in Q1 from Rs 3,410 crore net loss and Rs 2,863 crore operating loss, while income from operations increased 23 per cent from Rs 5,514 crore a quarter ago.

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