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Power Finance Corporation’s Profitable and Exceptional Results for Q1’24

New Delhi: Power Finance Corporation Ltd. has once again delivered remarkable and profitable results for Q1’24, with a surge of 43% in Standalone Profit After Tax. This outstanding performance has led to a Bonus Share Issue of 1:4 for our investors, reinforcing our commitment to delivering sustained long-term returns.

We are proud to announce that Power Finance Corporation is now a part of the MSCI Global Standard Index, which will enhance our global visibility and bolster our reputation as a leader in the energy transition. Speaking of which, we are leading the charge in this area with ambitious initiatives, including a Rs. 2.37 trillion MoU for clean energy advancements. By joining hands with 20 companies across solar, wind, and EVs, we are paving the path to achieve India’s 500 GW non-fossil fuel capacity by 2030. In addition, we have become the first Indian member of the Asia Transition Finance Study Group, spearheading sustainable financial uniting for sustainable transition finance in Asia.

This is a landmark achievement for PFC and India’s financial sector, and we are proud to be shaping the climate financing landscape alongside our global counterparts. Our consolidated financial highlights are equally impressive, with a 31% increase in consolidated Profit After Tax and a 17% growth in the consolidated Loan Asset Book. Consolidated disbursements have increased remarkably by more than three times, and our consolidated Net worth (including non-controlling interest) has increased by 19%. On the standalone side, we have registered a 43% increase in Standalone Profit After Tax and a five times increase in disbursements. Our net worth has surpassed the Rs. 70,000 crore mark, and our Net NPA ratio has touched almost 1%. We have also successfully raised Rs. 2,824 cr. under the second issue of public taxable bonds, with an oversubscription of over five times. Overall, these results demonstrate our unwavering commitment to delivering value to our investors and leading the way in the energy transition. We are confident in our ability to continue this momentum and achieve even greater success in the future.

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