Power Finance Corporation Ltd Witnesses Share Upsurge Following Dividend Announcement

The stock shares of the eminent Maharatna CPSE, Power Finance Corporation Ltd (PFC), observed a 1.33% intraday escalation on March 7, 2024, following the news revealed from our reliable sources that the corporation’s Board of Directors is set to contemplate a third interim dividend on March 11, 2024.

Fruitful Performance

Boasting a market capitalisation of Rs 1,41,838.37 crore, the Corporation’s outstanding performance is reflected in its 97% return over the past half-year, and an impressive 232% upsurge in the previous year. These striking accomplishments have solidified the corporation’s prominence in the market.

Significant Growth of Shares

Over a variety of time spans, the shares of PFC have witnessed substantial growth. The last two years have seen the shares return by a massive 406%, while the rate is as high as 377% over the previous five years. These striking growth figures further strengthen the corporation’s esteemed reputation in the market.

Quarterly Profit and Revenue Rise

According to the financial reports from our sources, PFC reported a 23% Year on Year (YoY) profit augmentation in the October-December quarter, pushing the consolidated net profit to Rs 4,727.4 crore. Additionally, there was an increment of 20% Year on Year in revenue, bringing the figure up to Rs 23,571.8 crore.

Power Finance Corporation’s Contribution

An interim dividend of Rs 3.50 per equity share was announced for the financial year 2023-24 by the corporation, setting the record date as February 20, 2024. This mirrors the commitment of the Power Finance Corporation towards its shareholders.

Established and Leading

Founded on the 16th of July 1986, the Power Finance Corporation has evolved as a preeminent Non-Banking Financial Corporation of India, playing a pivotal role in the nation’s economic progress.