Power Finance Corporation net profit rises 24% in June quarter to ₹3,718 crore

Power Finance Corporation (PFC) posted a 24 percent year-on-year rise in net profit for the quarter ended June to ₹3,718 crore. Interest income of the non-banking financial company grew around 17 percent to ₹11,827 crore. The non-banking financial company's loan asset book grew 10% to ₹4.75 lakh crore as on June 30.

No new non-performing assets (NPA) were added in more than a year, according to the company. The gross non-performing assets ratio saw a reduction of 44 basis points in the quarter standing at 3.38 percent.