Power Finance Corporation Ltd Share Price – NSE  / BSE

Finance, Mid Cap

Power Finance Corporation Ltd is up for a third straight session in a row. The stock is quoting at Rs 549.85, up 1.97% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.44% on the day, quoting at 25161.8. The Sensex is at 82195.26, up 0.5%. Power Finance Corporation Ltd has dropped around 0.87% in last one month.

Meanwhile, Nifty Financial Services index of which Power Finance Corporation Ltd is a constituent, has dropped around 1.29% in last one month and is currently quoting at 23521.5, up 0.5% on the day. The volume in the stock stood at 124.06 lakh shares today, compared to the daily average of 115.82 lakh shares in last one month.

The benchmark August futures contract for the stock is quoting at Rs 550.5, up 2.14% on the day. Power Finance Corporation Ltd is up 151.9% in last one year as compared to a 30.05% spurt in NIFTY and a 19.99% spurt in the Nifty Financial Services index.

The PE of the stock is 11.8 based on TTM earnings ending June 24.

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Power Finance Corporation announced that the Board of Directors of the Company at its meeting held on 6 August 2024, inter alia, have recommended the interim dividend of Rs 3.25 per equity Share (i.e. 32.5%) , subject to the approval of the shareholders.

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Net profit of Power Finance Corporation rose 21.13% to Rs 5543.14 crore in the quarter ended June 2024 as against Rs 4576.32 crore during the previous quarter ended June 2023. Sales rose 18.16% to Rs 24656.35 crore in the quarter ended June 2024 as against Rs 20866.51 crore during the previous quarter ended June 2023.

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Total income grew by 17.69% year on year (YoY) to Rs 24,736.68 crore in the quarter ended 30 June 2024.

Consolidated profit before tax stood at Rs 8,893.67 crore in the June quarter, up 20.17% from Rs 7,401.01 crore posted in Q1 FY24.

Total expenses in Q1 FY25 were at Rs 15,843.01 crore, up 16.35% on YoY basis.

Meanwhile, the company’s board declared an interim dividend of Rs 3.25 per equity share for FY25, subject to approval of shareholders. The record date for the said dividend is fixed on Friday, 30 August 2024 and it will be paid on or before 5 September 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.

Shares of Power Finance Corporation slipped 3.79% to Rs 478.75 on the BSE.

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