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Government-owned non-bank finance company Energy finance company (PFC) posted the highest ever net profit of 8,444 crore for fiscal year 2020-21, a jump of 49% from the previous year.

In FY20, the PFC reported net income of 5,655 crore on a stand-alone basis.

The company’s consolidated net profit also increased 66% in FY21 to 15,716 crore from 9,477 crore reported in FY20.

During the period 2020-2021, the power sector lender increased its net interest income to 12,951 crore in compassionate to 10,097 crore reported in fiscal year 20.

The company declared a dividend of 2 per share, which represents its total dividend payout in fiscal year 21 of 10 per share, or 100%.

Aided by profit growth, PFC’s net worth for fiscal 21 also increased 16% to 52,393 crore.

Unlike commercial banks, the gross value of PFC Postcode ratio saw a sharp reduction of 238 basis points from FY20. The current GNPA ratio is 5.70% compared to 8.08% in fiscal year 20

Net postcode The ratio also saw a sharp reduction of 171 basis points from FY20. The current net NPA ratio is 2.09 percent compared to 3.80 percent in FY20.

The lender said 25% of its “stressed book” was resolved in FY21.

The company’s capital adequacy ratio has also improved sequentially to reach 18.83% as of March 31, 2021. Capital adequacy is at a comfortable level with sufficient cushion beyond prescribed regulatory limits .

As part of the Aatma Nirbhar Discoms liquidity aid announced by the government, PFC and its affiliate REC, combined together, have so far sanctioned 1,34,782 crore and disbursed 78,855 crore.

“I am extremely satisfied with our results for fiscal 21 despite the many headwinds encountered during the year. The impressive performance of FY21, as evidenced by the highest earnings on record, underscores PFC’s inherent strengths in handling adverse economic events. In the future, too, we are committed to delivering long-term value to our shareholders, ”said President and CEO RS Dhillon.

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