Power Finance Corporation Ltd Share Price – NSE  / BSE

Finance, Mid Cap

Earlier, on 30 August 2024, PFC Consulting had been appointed as bid process coordinator (BPC) by Ministry of Power for the purpose of selection of bidder as ‘transmission service provider’ (TSP) to establish a transmission system through tariff based competitive bidding process (TBCB).

As per the provisions of TBCB Guidelines, the BPC has to prepare the project profile and initiate the process of land acquisition and forest clearance, if required. For these activities, a SPV is required to be incorporated which will take up various preparatory activities of the transmission projects, e.g., survey and preparation of report, initialization of the process of acquisition of land and also initiate the process of seeking forest clearance, if required.

Accordingly, the SPV has been incorporated as a wholly owned subsidiary of PFC Consulting to develop the aforementioned transmission scheme. This SPV will be transferred to the successful bidder after the completion of the bidding process. The successful bidder selected through the bidding process would develop the project.

Power Finance Corporation (PFC) is a leading power sector public financial institution and a non-banking financial company providing fund and non-fund-based support for the development of the Indian power sector.

The company's consolidated net profit rose 8.85% to Rs 7,214.90 crore on 14.96% increase in total revenue from operations to Rs 25,721.79 crore in Q2 FY25 over Q2 FY24.

The scrip added 0.25% to close at Rs 513.75 on Friday, 6 December 2024.

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Power Finance Corporation Ltd rose for a fifth straight session today. The stock is quoting at Rs 495.5, up 0.9% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is down around 1.01% on the day, quoting at 24030.45. The Sensex is at 79346.41, down 1.11%. Power Finance Corporation Ltd has added around 4.95% in last one month.

Meanwhile, Nifty Financial Services index of which Power Finance Corporation Ltd is a constituent, has added around 1.22% in last one month and is currently quoting at 24171.55, down 0.45% on the day. The volume in the stock stood at 61.9 lakh shares today, compared to the daily average of 119.84 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 495.15, up 0.71% on the day. Power Finance Corporation Ltd is up 51.02% in last one year as compared to a 19.57% gain in NIFTY and a 20.31% gain in the Nifty Financial Services index.

The PE of the stock is 10.39 based on TTM earnings ending September 24.

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Total income grew by 15.04% year on year (YoY) to Rs 25,754.73 crore in the quarter ended 30 September 2024.

Profit before tax stood at Rs 9,367.86 crore in the September 2024 quarter, up 8.57% from Rs 8,628.79 crore posted in Q2 FY24.

Total expenses spiked 19.1% to Rs 15,843.01 crore in Q2 FY25 over Q2 FY24.

Meanwhile, the company’s board declared second interim dividend of Rs 3.50 per equity share for FY25, subject to approval of shareholders. The record date for the said dividend is fixed on 25 November 2024 and it shall be paid on or before 8 December 2024.

Power Finance Corporation (PFC) is a leading power sector public financial institution and a non-banking financial company providing fund and non-fund-based support for the development of the Indian power sector.

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Power Finance Corporation has fixed 25 November 2024 as record date for 2nd interim dividend for FY 2024-25. The date of payment shall be on or before 08 December 2024.

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