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Shares of Power Finance Corp are rising

Shailendra BhatnagarAug 14, 2015, 15:33 IST

Power Finance Corp., a state lender to the power sector, inched up in trade after announcing a strong set of quarterly earnings.

PFC said its first quarter net profit rose 8.9 percent to 1,576 crore rupees compared with 1,448 crore rupees in the year ago quarter. Net Interest Income gained 20 percent to 2,470 crore rupees versus 2,053 crore rupees in the same quarter last year.

PFC rose 1.5 percent, or 3.55 rupees, to 243.15 rupees on the National Stock Exchange. The company's market capitalisation has fallen 8 percent to 32,150 crore rupees in the past one year. The stock trades at 1 time book value.

Image credit: Indiatimes