Earnings Review
PFC Q3 profit up 15% on lower provisions, healthy revenue
This story was originally published at 15:28 IST on 5 February 2026
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--PFC Oct-Dec net profit INR 47.63 bln
--Analysts saw PFC Oct-Dec net profit at INR 44.91 bln
--PFC Oct-Dec revenue INR 146.56 bln
--PFC Oct-Dec net profit INR 47.63 bln vs INR 41.55 bln year ago
--PFC Oct-Dec revenue INR 146.56 bln vs INR 130.44 bln year ago
--PFC Apr-Dec net profit INR 137.27 bln vs INR 122.43 bln year ago
--PFC Apr-Dec revenue INR 431.85 bln vs INR 381.60 bln year ago
--PFC to pay INR 4 per share interim dividend
--PFC interim dividend record date Feb 20
By Shweta
MUMBAI – Power Finance Corp. Ltd. reported a healthy double-digit rise in its bottom line for the December quarter as provisions for bad loans fell sharply and revenue showed a healthy growth. The state-owned company's net profit outpaced the Street's estimates.
The financier posted a net profit of INR 47.63 billion, up nearly 15% on year and nearly 7% on quarter, for the December quarter. Analysts had estimated the company's net profit around INR 44.91 billion.
The company made impairment on financial instruments of just INR 51.5 million for the reporting quarter, down 93% on year. The company's provisions were way lower than the estimate of INR 4.88 billion by ICICI Securities Ltd. The state-owned company had made the bad loan provisions of INR 744.8 million in the year-ago quarter. The company said, "There is no material impact from the enactment of New Labour Codes, 2025 on the financial results of the Company in the current period."
The December quarter total revenue from operations was INR 146.56 billion, up over 12% on year but marginally lower sequentially. The total income grew over 12% on year to INR 146.61 billion for the quarter.
The state-owned company's total expenses for the December quarter was INR 87.03 billion, up over 9% on year but nearly 6% lower on quarter. The company's tax expenses for the reporting quarter were INR 11.94 billion, up over 29% on year and nearly 11% on quarter. Meanwhile, employee benefit expenses were INR 767 million, up over 23% on year and over 14% on quarter. Its corporate social responsibility expenses were INR 781 million for the December quarter, up over 20% on year and over 2% sequentially.
For the nine months ended December, the financier's bottom line was INR 137.27 billion, up over 12% from the year-ago period. For Apr-Dec, the company's revenue from operations were INR 431.85 billion, over 13% higher. The company reversed its impairment on financial instruments to INR 4.35 billion for Apr-Dec. The company had made a provision for bad loans of INR 124 million in the year-ago period.
The company will pay an interim dividend of INR 4 per share with a record date of Feb. 20. At 1452 IST, Power Finance Corp. shares traded at INR 413.85 apiece on the National Stock Exchange, down 0.18% over Wednesday. End
Edited by Akul Nishant Akhoury
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