PFC Q1 Results: Net profit rises 31% on year to ₹5,982.14 crore; board recommends 1:4 bonus share
₹5,982.14 crore. The company had reported a profit of ₹4,579.53 crore in the year-ago period. Sequentially, net profit was down 2.4% from ₹6,128.63 crore in Q4FY23.
PFC share price today closed 1.10% lower at ₹264.15 apiece on BSE. The company's total consolidated revenue from operations rose 13.3% on year to ₹20,992.49 crores during the quarter ended June from ₹18,532.25 crore in Q1FY23. Total income to ₹21,001.44 crore in the first quarter.
It stood at ₹18,544.04 crore in the year-ago period. The board of directors of the company has recommended bonus shares to the shareholders in the ratio of 1:4. “The board of directors of the company in the meeting held recommended to issue bonus shares to the shareholders in the ratio of one bonus equity share of ₹10 each fully paid up for every four existing fully paid-up shares of ₹10 each.
The bonus equity shares shall be issued by capitalizing a sum not exceeding 660,02,03,520/- (Rupees Six hundred sixty crore two lakh three thousand five hundred twenty only) out of the sum standing to the credit of 'Securities Premium Account'," the company said in an exchange filing. Further, in the filing company said that the board of directors decided to defer the proposal to declare the interim dividend for FY 2023-24. According to the company's filing, on consolidated basis operating margin for the quarter ended June was 35.21% and net profit margin came in at 28.48%.
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