Power Finance (PFC) Q2 24/25 earnings summary

Executive summary

• Consolidated profit after tax for H1 2025 rose 14% year-on-year to ₹14,397 crore, with loan assets up 13% to ₹10,39,472 crore and standalone PAT up 18% to ₹8,088 crore.

• Achieved lowest gross NPA ratio of 2.71% since FY 2019, with no new NPAs added in over a year and robust asset quality maintained.

• Executed the largest-ever foreign currency term loan by an Indian PSU at $1.265 billion and launched a subsidiary in IFSC GIFT City for global infrastructure lending.

• Interim dividends of ₹3.5 and ₹3.25 per share declared for FY 2024-25; final dividend of ₹2.50 per share for FY 2023-24 paid in September 2024.

• Total consolidated income for H1 2025 reached ₹50,491.41 crore, with EPS (not annualised) at ₹32.86.

Financial highlights

• Standalone Q2 2025 net profit reached a record ₹4,370 crore, up 14% year-on-year; H1 2025 net profit at ₹8,088 crore, up 18%.

• Net interest income for H1 2025 increased 21% year-on-year to ₹8,736 crore; consolidated net interest income at ₹18,399 crore.

• Yield improved to 10.11% in H1 2025 from 9.92% in H1 2024; spread rose to 2.61% from 2.55%.

• NIM for H1 2025 at 3.57%, up 20 bps year-on-year.

• Net worth as of 30.09.2024 was ₹1,10,046.15 crore; total assets at ₹11,03,361.38 crore.

Outlook and guidance

• Expect to maintain loan growth at 14% for FY 2025, with margins guided to remain in the 3%-3.5% range.

• Disbursement pace expected to be sustained, with a healthy project pipeline and focus on power, logistics, and infrastructure sectors.

• MoU signed with BEML Ltd. to enhance infrastructure financing collaboration.