The company's board has also approved the un-audited financial results for the quarter ended 30 June 2023.

PFC recorded 31% increase in consolidated profit after tax to Rs 5,982 crore in Q1 FY24 from Rs 4,580 crore in Q1 FY23. The corporation's total income rose by 13% YoY to Rs 21,001 crore during the period under review.

Consolidated loan asset book grew by 17% to Rs.8,86,723 as on 30 June 2023 from Rs 7,58,074 crore as on 30 June 2022.

Consolidated disbursements increased remarkably by more than 3 times to Rs 56,925 crore in Q1 FY24 from Rs 17,084 crore in Q1 FY23.

Consolidated net worth (including non-controlling interest) increased by 19% from Rs. 99,623 crore as on 30 June 2022 to Rs 1,18,366 crore as on 30 June 2023.

Gross NPA declined by 148 bps from 5.02% in Q1 FY23 to 3.54% in Q1 FY24. Net NPA has reached its lowest level of 1% in Q1 FY24 from 1.57% in Q1 FY23.

Till date, PFC group has cumulatively sanctioned Rs 1,15,565 crore and disbursed Rs 60,711 crore under Late Payment Surcharge Rules.

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 scrip fell 1.10% to end at Rs 264.15 on the BSE yesterday.