Latest news with #ParminderChopra
News18
5 days ago
- Business
- News18
Power Finance Corp Q1 profit grows 25 pc to Rs 8,981 cr
Agency: PTI Last Updated: New Delhi, Aug 6 (PTI) Power Finance Corporation (PFC) on Wednesday reported 25 per cent rise in consolidated net profit at Rs 8,981 crore for June quarter 2025-26, mainly on account of higher net interest income. PFC, a government-owned NBFC, had logged a net profit (profit after tax) of Rs 7,182 crore in April-June 2024-25, the company said in a statement. In the first quarter, the company's consolidated loan asset book grew 13 per cent to Rs 11,34,347 crore from Rs 10,04,735 crore as on June 30, 2024. Total income rose to Rs 28,628.92 crore from Rs 24,736.68 crore in the year-ago quarter. Expenses were at Rs 17,429.93 crore as against Rs 15,843.01 crore. The company's board also declared an interim dividend of Rs 3.70 per share of face value of Rs 10 each for FY26. Gross NPA declined from 2.97 per cent in Q1FY25 to 1.47 per cent in Q1FY26. In the quarter, PFC reported a standalone net profit of Rs 4,502 crore, marking 21 per cent Y-o-Y growth, primarily driven by 26 per cent increase in net interest income, Director (Finance) Sandeep Kumar said. 'Our financial position remains resilient, underpinned by a healthy capital adequacy ratio and continued improvement in asset quality," he added. Chairman and Managing Director Parminder Chopra said the quarter marked the company's highest ever first-quarter disbursements. 'We recorded a robust year-on-year growth of 16 per cent, with our renewable energy portfolio growing impressively by 36 per cent." Under Ministry of Power, PFC is a nodal agency for the development of Integrated Power Development Scheme, Ultra Mega Power Projects and Bid Process Coordinator for Independent Transmission Projects. PTI ABI ABI ANU ANU view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
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Business Standard
04-06-2025
- Business
- Business Standard
Shanti Ekambaram tops Hurun India 2025 list of women professionals
Shanti Ekambaram, deputy managing director of Kotak Mahindra Bank, leads the list of the top 10 women professionals in India, with the company being valued at ₹3.8 trillion, according to the 2025 Candere Hurun India Women Leaders List. The inaugural report analysed 97 women across nine categories, professionals, first-generation wealth creators, next-generation leaders, investors, philanthropists, young women leaders, artists, most-followed influencer founders, and most-followed celebrity investors. Parminder Chopra, chairperson and managing director, Power Finance Corporation (PFC), follows Ekambaram in the list. Overall, the businesses led by the women in the top professionals' list are valued at over ₹11.7 trillion, the report stated. Leading the list of top 10 first-generation women wealth creators is Radha Vembu, cofounder of Zoho Corporation, with a net worth of ₹55,300 crore. Roshni Nadar Malhotra, chairperson, HCL Technologies, tops the list of next-generation women leaders, with her company being valued at ₹4.87 trillion. Isha Ambani, executive director at Reliance Retail ranks sixth in the top-10 young women leaders list. Meanwhile, Devanshi Kejriwal (28), cofounder and CPO, Skillmatics, ranks first on the list.
Time of India
21-05-2025
- Business
- Time of India
PFC Group reports ₹30,514 crore PAT in FY25, up 15%; standalone profit rises 21%
New Delhi: Power Finance Corporation (PFC) Group reported a 15 per cent increase in profit after tax (PAT) at ₹30,514 crore for the financial year 2024-25, compared to ₹26,461 crore in FY24. The company's consolidated loan asset book rose 12 per cent to ₹11,09,996 crore from ₹9,90,824 crore. PFC's consolidated net worth, including non-controlling interest, increased by 16 per cent to ₹1,55,155 crore as on March 31, 2025, from ₹1,34,289 crore in the previous year. The Group's consolidated gross NPA declined to 1.64 per cent in FY25 from 3.02 per cent in FY24. Net NPA dropped to 0.38 per cent from 0.85 per cent. On a standalone basis, PAT rose 21 per cent to ₹17,352 crore in FY25 from ₹14,367 crore in FY24. In the fourth quarter, standalone PAT stood at ₹5,109 crore, up from ₹4,135 crore in Q4FY24. The board proposed a final dividend of ₹2.05 per share for Q4, taking the total dividend for FY25 to ₹15.80 per share. PFC's standalone loan book increased 12.81 per cent to ₹5,43,120 crore as on March 31, 2025, from ₹4,81,462 crore. The renewable loan book grew 35 per cent year-on-year to ₹81,031 crore. Net worth on a standalone basis rose to ₹90,937 crore, a 15 per cent increase from ₹79,052 crore. The gross NPA on a standalone basis declined by 140 basis points to 1.94 per cent in FY25 from 3.34 per cent in FY24. Net NPA dropped to 0.39 per cent from 0.85 per cent following the resolution of the KSK Mahanadi project. Commenting on the performance, CMD Parminder Chopra said, 'PFC continues to set new benchmarks as India's highest profit-making NBFC — both on a consolidated and standalone basis. With a focus on delivering sustainable growth that is Realistic, Resilient, and Robust, we have delivered yet another year of strong financial performance.' She added, 'We are powering India's power and infrastructure sector with confidence and stability. PFC continues to lead the way in clean energy financing with the largest renewable loan book in the country, now exceeding ₹80,000 crore — a 35 per cent year-on-year growth.' Director (Finance) Sandeep Kumar said, 'FY25 has been a landmark year for PFC, delivering our highest-ever profit — a 21 per cent increase to ₹17,352 crore — driven by strong financial and operational excellence.' He added, 'The successful resolution of KSK Mahanadi has been instrumental in further strengthening our asset quality, with Net NPAs sharply declining to 0.39 per cent from 0.85 per cent.'
Time of India
21-05-2025
- Business
- Time of India
PFC Q4 net profit rises 11%, makes 100% provisions on Gensol Engineering
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Power Finance Corp (PFC) reported an 11% increase in the fourth-quarter net profit at Rs 8,358 crore, buttressed by an increase in interest income and provisioning the same quarter a year ago, the company had reported a net profit of Rs 7,556 board at the state-run infrastructure lender recommended a final dividend of Rs 2.05 per share for FY25, taking the total dividend to Rs 15.80 per interest income, or the different between interest earned and expended, rose 38% to Rs 12,092 crore in the March quarter from Rs 8,739 crore a year the quarter, the company saw gains from resolution of KSK Mahanadi, a 3,600 MW thermal generation project with outstanding of Rs 3,300 crore, with overa 100% recovery. The company recovered Rs 4,500 crore in this account including interest. With this, gross NPA fell to 1.94% from 3.34% and Net NPA ratio declined to 0.39% in FY25 from 0.85% in company reported its highest-ever annual profit after tax at Rs 17,352 crore in FY25, rising from Rs 14,367 crore a year forward, the company expects resolutions in two NCLT cases- Sinnar Thermal and India Power Haldia- and for Shiga and TRN Energy outside the downside, fresh provisions of Rs 1,000 crore were made due to the re-ranking of DISCOMs under the 13th Integrated Ranking Methodology. An additional Rs 260 crore was provided for the fully provisioned Gensol account. Also, Stage 2 asset provisioning was also raised to 1.25% as a prudence said disbursements in FY25 were largely driven by the distribution sector, mainly state-run DISCOMs and renewables, aiding the loan book to grow 12.81% to Rs 5.43 lakh crore including renewables at Rs 80,000 company's chairperson Parminder Chopra said she expects the loan book to expand 10-11% in FY26, led by the nuclear energy front, Chopra said the company is open to funding but is awaiting a clear policy direction from the thermal projects, she said that while it continues to support state and private players, disbursements will materialize over the medium term due to longer gestation cycles. In contrast, renewable projects offer shorter turnaround and will likely drive near-term funding.
Time of India
21-05-2025
- Business
- Time of India
Distribution, RE our main growth drivers in loan disbursements; nuclear energy another lending opportunity for us: Parminder Chopra, CMD, PFC
Mumbai: State-run Power Finance Corp ( PFC ) on Wednesday said its renewable energy book has crossed ₹80,000 crore milestone and is at ₹81,031 crore as on 31 March 2025, registering an increase of 35 per cent from last financial year. 'Our renewable energy portfolio has reached ₹81,031 crore, an increase of 35 per cent from the previous financial year… The main growth drivers were distribution and renewable energy, which contributed 55 per cent and 17 per cent to the disbursements,' said its Chairman and Managing Director (CMD) Parminder Chopra at the press conference here. On expansion in nuclear generation space, she said that will be another lending opportunity for PFC going forward. 'We are waiting for a clear policy direction from the government. Since we are the largest power sector lender, we will definitely be happy to fund nuclear energy as well,' she added. Chopra said that India is steadily moving towards its 2030 energy transition targets. FY25 saw a record renewable capacity addition of around 30 GWs, with solar power comprising 80 per cent of these additions. 'The PM Surya Ghar Muft Bijli Yojana, launched in February 2024, is also contributing to India's green energy goals. As of March 2025, the scheme has facilitated installation of over 3 GW of rooftop solar capacity, covering over 10 lakh homes. Additionally, 27 GW is targeted by March 2027 under the scheme,' she added. India has 17 GWs of rooftop solar installed capacity. This brings the total installed renewable capacity in India to 220 GW as on March 31, 2025, representing about 45 per cent of the country's total installed capacity. 'As India's electricity demand continues to rise, renewable energy is expected to be a significant share of our installed capacity. Considering the intermittent nature of renewables, ensuring grid stability and reliable power supply will be critical for our energy security,' said Chopra. The government is focusing on energy security in a threefold manner. First is by focusing on making renewable energy firm and dispatchable by integrating it with energy storage solutions. Second, by strategically complementing renewable power with capacity additions in the thermal generation space. Third, by exploring expansion of nuclear energy capacity. 'Aligned with this focus, the new renewable power options are increasingly emphasizing integrated projects such as solar-wind hybrids and generation-coupled projects coupled with battery energy storage or pumped storage projects,' she said. For instance, in February 2025, the Central Electricity Authority has mandated minimum two hours of co-located energy storage system in future solar trend tenders. In 2025, more than 50 per cent of the total option capacity was for integrated renewable. 'I want to emphasise that grid-scale energy storage technology, especially when battery energy, are still in their early stages of growth and adoption, not just in India but globally,' she said. As the rate of adoption increases, rapid technological advancements are likely, resulting in cost reductions and increased efficiency. The decreasing tariff trend will help in achieving significant scales going forward, said Chopra. 'The situation mirrors the early days of solar PV projects in India. The evolution of energy storage technologies and the surrounding ecosystem will be key detrimental for future renewable energy growth . Just as we were pioneers in supporting renewable energy projects, PFC is committed to be at the forefront of funding these emerging technologies,' she added.
