Power Finance Gains 2% After Reporting Rs 8,444 Crore Profit In March Quarter

Shares of Power Finance Corporation have been last shopping for and promoting 1.06 per cent bigger at Rs 129.15 on the BSE.

Share worth of Power Finance Corporation edged bigger by one per cent on Wednesday, June 16, a day after the company reported its January-March quarter outcomes for the financial 12 months 2020-21. On Wednesday, Power Finance Corporation opened on the BSE at Rs 129.30, swinging to an intra day extreme of Rs 132.85, and an intra day low of Rs 128.50, throughout the shopping for and promoting session thus far. According to a regulatory submitting by the company to the stock exchanges, Power Finance reported an internet income of Rs 8,444 crore on a standalone basis throughout the March quarter.

According to the assertion, Power Finance Corporation or PFC registered a 49 per cent year-on-year bounce in income from the corresponding interval of the sooner fiscal, as a consequence of bigger curiosity earnings and reduce value of funds.

Power Finance Corporation educated the stock exchanges that the company's board of directors helpful a closing 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 12 months 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 12 months 2020-21, paid in March 2021.

On the NSE, Power Finance Corporation opened at Rs 129, registering an intra day extreme of Rs 132.90 and an intra day low of Rs 128.60, throughout the session thus far. It was last shopping for and promoting 0.90 per cent bigger at Rs 129 on the NSE.

Shares of Power Finance Corporation have been last shopping for and promoting 1.06 per cent bigger at Rs 129.15 on the BSE. Power Finance is a financial institution beneath the Ministry of Power. It is taken into consideration to be the financial backbone of the nation's power sector.