PFC High On Energy In Q1FY14
DSIJ Intelligence / 05 Aug 2013
The company notched up higher sales and profit figures for the quarter, as well as improved levels of sanctions and disbursements overall.
Power Finance Corporation (PFC) has announced its June 2013 quarter results. It posted good growth in its PAT on a yearly basis, which came in at Rs 1198 crore as compared to that of Rs 972 crore in the previous year corresponding quarter. On the topline front, the total income was at Rs 5017 crore, up from Rs 3945 crore in June 2012.
The impact of the better topline was also seen in its net income growth, which went up by around 39% on a YoY basis to come in at Rs 1942 crore. The interest spread also increased by 66 basis points to 3.29% from the levels of 2.63% in June 2012.As regards the other operational highlights, the sanctions increased by 37% to the levels of Rs 15375 crore as compared to 11182 crore on a YoY basis. Disbursements rose by 4% to Rs 8235 crore YoY from the earlier figure of Rs 7884 crore.
As regards the other performance parameters, the yield on assets for the June 2013 quarter stood at 12.14% as against 11.71% in June 2012. The cost of funds declined to 8.85% from the levels of 9.08% for June 2013 and June 2012 respectively. As a result, the net interest margins for the June 2013 quarter improved to 4.76% from the levels of 4.19% in the June 2012 quarter.
The company’s return on average assets for Q1FY14 quarter declined marginally to 2.78% from that of 2.81% in June 2012. The Capital Adequacy Ratio (CAR) improved to 18.82 per cent (Tier I at 17.07% and Tier II at 1.75%).
There were some changes seen on the segmental front, with sanctions exposure to the Generation segment coming down to 65% in June 2013 from 75% in June 2012. On the other hand, this has increased to 16% each in the Transmission and Distribution segments, up from 10% and a mere 2% respectively for the previous year same quarter. Significant changes were seen on the disbursement front too, as the disbursement to Generation declined to just 65% in June 2013 quarter from the levels of 91% in June 2012.
The performance of the company has been quite strong on most of the parameters. Investors can take exposure to the scrip with a long-term perspective.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.