Power Finance Corporation (PFC) for the Financial Year 2024 reported loan growth of 14 per cent year-on-year to Rs 4.81 lakh crore.

PFC Group registered the highest annual Profit After Tax (PAT) with 25 per cent increase to Rs 26,461 crores in FY ’24 from Rs 21,179 crore in FY’23.

It continues to be the largest NBFC Group in India with total balance sheet size crossing more than Rs 10 lakh crore in FY’24.

Net Interest Income (NII) for the quarter stood at Rs 4,237 crore, which is flat compared to the December quarter and up 22 per cent compared to the same period last year.

Revenue for the quarter went up by 20.2 per cent from last year to Rs 12,243.7 crore.

Net profit for the quarter was also aided by a 32.6 per cent jump in other income to Rs 755.4 crore. There was also a write-back of provisions worth Rs 337 crore, compared to an outgo of Rs 262.6 crore in the December quarter and a write-back of Rs 494.2 crore in the year-ago quarter.

The consolidated Gross NPA nearly touches 3 per cent and is at 3.02 per cent in FY ’24 against 3.66 per cent in FY’23.

Owing to active resolution efforts, consolidated Net NPA has reached its lowest level at 0.85 per cent in FY’24 from 1.03 per cent in FY’23.

Company’s Chairperson and Managing Director (CMD), Parminder Chopra, shared that PFC Group continues to be the largest NBFC Group in India and is also India’s highest profit making NBFC both on a consolidated and on a stand-alone basis.

“Maximising shareholder value remains a priority. Today, the final dividend of Rs 2.50 per share has been proposed by the Board. With this, the total dividend for FY’24 would be Rs 13.50 per share,” he said.

”Beyond financials, PFC leads India’s clean energy push. Our renewable loan portfolio grew 25 per cent year on year to over Rs 60,000 crore, solidifying our position as the leading renewable lender in India.

“Looking ahead, PFC sees exciting growth in power and infrastructure, and is positioned to be a proactive partner in India’s future development,” he added.

PFC’s renewable book registered 25 per cent year on year growth, with the renewable loan portfolio having crossed the 60K milestone and is at Rs 60,208 crore.

PFC continues to maintain comfortable capital adequacy levels with capital to risk-weighted assets ratio (CRAR) as on March 31, 2024 is at 25.41 per cent, with Tier 1 capital at 23.18 per cent, well above the regulatory limit.

The company registered a 16 per cent increase in net worth to Rs 79,203 crore as on March 31, 2024 from Rs 68,202 crore as on March 31, 2023.