Progress on stressed assets to improve Power Finance Corporation margins

After falling over 8 per cent intra-day on Tuesday, the stock of Power Finance Corporation (PFC), recovered 1.2 per cent to Rs 82.15 on Wednesday. Net interest income (or NII) — the difference between interest earned and expensed — for the June quarter plunged 23.5 per cent year-on-year to Rs 19.9 billion. Yet, lower additional provision for stressed assets led to 22.4 per cent rise in net profit to Rs 13.7 billion. What helped change investor sentiment about the stock was the status of stressed assets. According to the management, major private stressed power accounts will b.....

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