State run Power Finance Corporation has declared the results for the three-month period ended March 31, 2009.

For the period under review, the New Delhi-based firm said that it has posted a growth of 32.22% in its net profit after higher loan disbursals.

The company’s net profit in the fourth quarter stood at Rs 390.58 crore, as compared to net profit of Rs 295.40 crore during the corresponding period of the last year.

The company’s total income during the quarter surged to Rs 1,816.93 crore from Rs 1,365.18 crore in the prior year.    

During the quarter, the company reported earnings of Rs 3.40 a share, a rise of 32.30% over the prior year period.

For the year ended Mar. 31, 2009, the company registered an increase of 12.29% in its net profit of Rs 1,355.18 crore as against INR 1,206.75 crore in the same period last fiscal.

Mr. Satnam Singh, Chairman, Power Finance Corporation, said that the company has decided to borrow Rs 23,000 crore during the fiscal year ending March 2010.

Loan approvals may increase 15% to Rs58,100 crore, PFC had said on 31 March. The company aims to disburse Rs 21,160 crore of loans during the year.

Shares of the company, on Friday (April 17), closed at Rs 154.60, up 7%, on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 14.01 and 11.04 respectively. The share price has seen a 52-week high of Rs 189.40 and a low of Rs 86.20 on BSE.