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PFC Q3 profit rises 70% to Rs 2,075 crore.


Date: 12-02-2019
Subject: PFC Q3 profit rises 70% to Rs 2,075 crore
New Delhi: State-run Power Finance Corporation (PFC) Monday reported a 70 per cent jump in standalone net profit to Rs 2,075.84 crore for the December 2018 quarter, mainly on account of higher revenues. 

Its standalone net profit was Rs 1,216.94 crore in the corresponding quarter a year ago, the company said in a statement. 

The firm's total income rose to Rs 7,363,89 crore in the quarter from Rs 6,247.62 crore a year ago. 

The board of PFC Monday also approved revised borrowing limit of Rs 97,000 crore for this fiscal, which includes Rs 67,000 crore long-term rupee borrowing, Rs 10,000 crore from long-term foreign currency borrowing, Rs 13,000 crore from commercial papers and Rs 7,000 crore short-term borrowing. 

During the April-December 2018 period, the company's profit also rose to Rs 4,804.22 as compared with Rs 3,565.28 crore in the corresponding period of the previous year. 

The company's primary business is to provide finance to the power sector. 

Source: economictimes.indiatimes.com

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