Power Finance gains 2% after reporting profit of Rs 8,444 crore in March quarter

Power Finance gains 2% after reporting profit of Rs 8,444 crore in March quarter

Power Finance Corporation informed the stock exchanges that the company’s board of directors recommended a final dividend at Rs 2 per equity share, subject to the deduction of TDS, on the face value of Rs 10 per share for the financial year 2020-21, after the approval of shareholders. This dividend is in addition to the interim dividend of Rs. 8 per equity share, for the ficsla year 2020-21, paid in March 2021. According to the statement, Power Finance Corporation or PFC registered a 49 per cent year-on-year jump in profit from the corresponding period of the previous fiscal, due to higher interest income and lower cost of funds.

On the NSE, Power Finance Corporation opened at Rs 129, registering an intra day high of Rs 132.90 and an intra day low of Rs 128.60, in the session so far. It was last trading 0.90 per cent higher at Rs 129 on the NSE.

Source www.ndtv.com Shares of Power Finance Corporation were last trading 1.06 per cent higher at Rs 129.15 on the BSE. Power Finance is a financial institution under the Ministry of Power. It is considered to be the financial backbone of the country’s power sector.

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  • Power Finance gains 2% after reporting profit of Rs 8,444 crore in March quarter
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