Power Finance Corporation trips on lower Q4 net profit

Power Finance Corporation dropped 2.54% to Rs 159.55 at 14:27 IST on BSE after posting 19.91% fall in net profit to Rs 297.32 crore in Q4 March 2008 over Q4 March 2007.

The stock hit a high of Rs 171.80 and a low of Rs 159.25 so far during the day. The stock had a 52-week high of Rs 297.40 on 14 November 2007 and a 52-week low of Rs 107.65 on 17 April 2007.

The company’s current equity is Rs 32.62 crore. Face value per share is Rs 10.

The current price of Rs 159.55 discounts its Q3 December 2007 EPS of Rs 11.17, by a PE multiple of 14.28.

Power Finance Corporation’s total income rose 10.37% to Rs 1,366.73 crore in Q4 March 2008 over Q4 March 2007.

On 27 March 2008, Power Finance Corporation signed a memorandum of understanding with RITES to combine its resources and expertise to facilitate import of coal from African countries.

The company provides funds based services like term loans, equipment leasing, bill discounting, buyer’s line of credit. It also provides non-funds based services like guarantee services, consultancy services, to the power sector.