India's Power Finance Corporation up on Q4 profit rise

Power Finance

15/05/2024 08:25

** Shares of state-run Power Finance Corporation  PWFC.NS 
up 3.6% at 436.80 rupees; it rose as much as 4.7% earlier in the
session 
    ** PWFC reports 20.2% Y/Y rise in Q4 consolidated net profit
while total rev from ops grew 20.3% Y/Y
    ** Co also declared final dividend of 2.5 rupees per share
for fiscal 2024
    ** Stock top gainer in Nifty PSE index  .NIFTYPSE , which is
up 1.3%
    ** Trading vol 1.3x 30-day daily avg
    ** Avg rating of 6 analysts equivalent of "strong buy";
median PT is 520 rupees - LSEG data
    ** Stock rose 2% in March quarter vs 16.1% rise by Nifty PSE
index



 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))