Power Finance Corp net up 23% to Rs 1,274 crore

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SummaryState-owned Power Finance Corp on Friday posted nearly 23% jump in net profit at R1,273.79 crore for the three months ended September.

State-owned Power Finance Corp on Friday posted nearly 23% jump in net profit at R1,273.79 crore for the three months ended September.

The company, a key lender for the power sector, had a net profit of R1,036.49 crore in the year-ago period. In the second quarter of current fiscal (July-September period), Power Finance Corp saw its total income climb to R5,336.96 crore, according to a regulatory filing.

The entity had reported a total income of R4,191.16 crore in the same period a year ago.

Total expenses in the latest September stood at R 3,547.27 crore, against R2,756.88 crore in the three months ended September 2012.

Shares of the company rose 1% to close at R144.95 on the BSE on Friday.

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