PFC profit grows 23% to `7,556 cr
New Delhi: Power Finance Corporation (PFC) on Wednesday posted over 23 per cent rise in consolidated net profit at Rs 7,556.43 crore for March quarter FY24 on account of growth in loan portfolio. It had clocked Rs 6,128.63 crore profit from “continuing and discontinued operations” during the fourth quarter of last fiscal, the company said in an exchange filing. Total income rose to Rs 24,176.34 crore from Rs 20,074.11 crore in January-March FY23. Expenses were at Rs 14,579.16 crore as against Rs 12,312.29 crore a year ago. The company logged the highest annual profit of Rs 26,461 crore in FY24, up 25 per cent from Rs 21,179 crore in FY23.
IIFCL profit rises 44% to `1,552 cr
New Delhi: India Infrastructure Finance Company Ltd (IIFCL) on Wednesday reported a 44 per cent jump in standalone net profit to Rs 1,552 crore for the fiscal ended March 2024 aided by an increase in lending and moderation in bad loans. The state-owned infrastructure finance company had earned a net profit of Rs 1,076 crore in the previous fiscal. The company recorded the highest-ever profit, recovery, sanction and disbursement furthering turnaround performance that began three years ago, IIFCL managing director PR Jaishankar said while announcing annual financial numbers. He said, for the first time, the profit before tax has crossed Rs 2,000 crore. During the year, profit before tax has increased to Rs 2,029 crore as against Rs 1,076 crore in the previous year.
Granules India profit up 8% at `130 cr
New Delhi: Drug firm Granules India on Wednesday reported 8 per cent increase in consolidated profit after tax at Rs 130 crore for the fourth quarter ended March 31, 2024.
The drug firm had posted a profit after tax (PAT) of Rs 120 crore for January-March FY23. Revenue from operations declined to Rs 1,176 crore in the period under review from Rs 1,195 crore in the fourth quarter of FY23, Granules India said in a regulatory filing. For FY24, the firm posted a consolidated PAT of Rs 405 crore, down 22 per cent from Rs 517 crore a year ago, it added. Revenue from operations declined to Rs 4,506 crore from Rs 4,512 crore in 2022-23. “We had a strong uptick in gross margin for Q4 and for the full year, with continued growth in formulations share coming from the US and Europe as part of our global expansion strategy and a higher contribution from new products,” Granules India Chairman and Managing Director Krishna Prasad Chigurupati said.
