PFC Share Price Up by 8.50%; Posts Q2 FY 2025 Financial Results and Declares ₹3.50 Interim Dividend

Power Finance Corporation (PFC) announced its unaudited financial results for the quarter and half year ended September 30, 2024. 

On November 11, 2024, PFC share price opened at ₹454.25, up from its previous close of ₹449.40. At 11:30 AM, the share price of PFC was trading at ₹487.60, up by 8.50%. The positive movement in the stock price comes after the company reported its financial performance and the declaration of an interim dividend.

Financial Results for Q2 FY 2025

PFC reported a significant increase in its total income for Q2 FY 2025, which rose to ₹13,215.31 crore, up from ₹11,788.49 crore in the same period last year. This growth in income reflects the company’s strong operational performance. Furthermore, PFC’s profit from continuing operations also saw an uptick, rising to ₹4,370.44 crore in Q2 FY 2025 compared to ₹3,847.43 crore in the same quarter of FY 2024.

Dividend Declaration

PFC has declared an interim dividend of ₹3.50 per equity share (35% on face value of ₹10). The interim dividend will be subject to the deduction of TDS (Tax Deducted at Source). The company has set the record date for dividend eligibility as November 25, 2024. Shareholders on this date will be eligible for the dividend, which will be paid on or before December 8, 2024.

PFC Completes Transfer of Two Wholly Owned Subsidiaries to Power Grid Corporation

The company also announced that it has completed the transfer of two wholly owned subsidiaries of PFC Consulting Limited (a wholly owned subsidiary of PFC) to Power Grid Corporation of India Limited. 

The subsidiary, Khavda PSL and 3 Transmission Limited was established for the development of “Provision of Dynamic Reactive Compensation at KPS I and KPS3.” The consideration received for this transaction, as per the Share Purchase Agreement (SPA), is ₹7,92,07,752.

Additionally, Barmer I Transmission Limited, established for the development of the “Transmission System for Evacuation of Power from Rajasthan REZ Ph-IV (Part-2: 5.5 GW) (Jaisalmer/Barmer Complex): Part F,” was also transferred. The consideration for this sale, as per the SPA, is ₹18,89,79,718. 

The sale and transfer process for these Special Purpose Vehicles (SPVs) to the successful bidder(s) was completed on November 7, 2024.

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