Commenting on the performance for Q4 & FY2013, Mr. Deepak Amitabh - Chairman and Managing Director said:

"We are happy to announce a healthy set of results for the quarter and year ended 31st March 2013. PFS continues to delivers superior spreads on the back of high yields on one hand and optimal cost of funds on the other. The Company is also judiciously growing its loan book while maintaining nil NPA's. The profit after tax (PAT) for FY2013 stands at Rs. 104.16 crore compared to Rs. 154.04 crore for FY2012. Excluding profit on sale of equity investments, PBT and PAT have grown by 109% and 111% respectively in FY 2013. Excluding profit on sale of equity investments during previous year, the return on networth has increased to 8.60% in FY 2013 compared to 4.51% in FY 2012

Board of Directors in their meeting held on 17th May 2013 considered and recommended a dividend @ 4% i.e. Rs.0.40 per equity share of Rs. 10 each for the financial year 2012-13.

As at 31st March 2013, the effective term loans sanctioned by the Company aggregate to almost Rs.10,000 crore, supporting capacity creation of more than 30,000MW. Keeping in mind the recent uncertainties in the power sector, we have been consciously diversifying our portfolio and offering advisory services with focus on lending to renewable power projects. Recently PFS has sanctioned loans for infrastructure facilities like development of private railway sidings, development & operations of coal mines and power transmission projects.

PFS today, is India's premier infra-finance company engaged in creation of infrastructure across the energy value chain. Our strong promoter pedigree and sector knowledge help us identify and invest in unique power assets which are backed by reputed managements. This combined with efficient capital mix and ability to scale up the leverage will help us grow our lending book going ahead."

Performance for the quarter ending Mar'13

For quarter ended Mar'13, Interest income for PFS grew by 67% to Rs 69.71 crore. Interest expense for the quarter grew by 57% to Rs 30.97 crore. Thus NIM grew by 75% to Rs 38.74 crore. The other income which includes income from sale of power, fee based income, FD income and income from mutual funds, was down by 4% to Rs 7.37 crore resulting Total income of Rs 46.11 crore for the quarter, up by 55% y.o.y.

Operating expense during the quarter was down by 32% to Rs 9.16 crore. PBT before profit on sale of equity investments, stood at Rs 36.95 crore, up by 126% y.o.y. There was a profit on sale of equity investments of Rs 66.51 crore for Mar'12 quarter as compared to NIL for Q4 FY'13. Thus PBT after taking into account the profits on sale of equity investments is down by 55% to Rs 36.95 crore for Q4 FY'13. Total tax during the quarter stood at Rs 12.72 crore, down by 35% and PAT after EO, was down by 62% to Rs 24.23 crore.

Performance for the year ending Mar'13

For the year ending Mar'13, Interest income stood at Rs 251.32 crore, up by 89% y.o.y. Interest expense stood at Rs 101.17 crore, down by 47% resulting in 133% increase in NII at Rs 150.15 crore. The other income was down by 25% to Rs 35.21 crore resulting total income of Rs 185.36 crore, up by 66%. Other income for FY'12 includes income from sale of certified emission units of Rs 4.63 crore as compared to Nil for FY'13.

Operating expense was down by 19% to Rs 30.07 crore. PBT before profit on sale of equity investments was up by 109% to Rs 155.9 crore. There was a profit of Rs 127.24 crore for Mar'12 year, being profits from divesting equity stake in 2 companies namely Ind-Barath Power generation and Indian Energy exchange, as compared to Nil for Mar'13 year.

PBT after profits on sale of equity investments and emission units, stood at Rs 155.29 crore , down by 23% . After providing total tax of Rs 51.13 crore, up by 7% y.o.y, the PAT stood at Rs 104.16 crore, down by 32% y.o.y.

Other updates

PFS reported Nil NPAs

Total effective debt sanctioned grew by 58% to Rs.9,999 crore from Rs.6,335 crore as at March 31, 2012

Total outstanding debt grew by 81% to Rs. 2,296 crore from Rs. 1,266 crore as at March 31, 2012.

Book Value as on Mar'13 stands at Rs 21.75.

Promoter's shareholding as on Mar'13 stood at 60% and none of the shares are pledged.

The stock is currently trading at Rs 14.3.