PFC's after-tax profit rises 20 per cent to Rs2,355 crore
27 April 2010
State-run power sector lender Power Finance Corporation today reported a 20-per cent rise in its fiscal 2009-10 'profit after tax' (PAT) at Rs2,355 crore against Rs1,970 crore recorded in the FY2008-09.
Consistent with higher volume of operations, PFC's total income rose 23 per cent to Rs8,074 crore from Rs6,584 crore in the previous financial year 2008-09.
PFC's 'loan assets' increased 24 per cent to Rs79,856 crore from Rs64,429 crore while its net worth rose 17 per cent to Rs12,618 crore from Rs10,790 crore, during this period. The infrastructure lender has been consistently maintaining its net NPAs at 0.01 per cent of loan assets.
Loan sanctions rose 15 per cent from Rs57,030 crore to Rs65,466 crore while disbursements rose 23 per cent to Rs25,808 crore. Earning per share (EPS) has also gone up from Rs17.56 to Rs20.52 during this period.
PFC is exploring possibilities of financing nuclear power projects in the country and will shortly sign a memorandum of understanding (MoU) with Nuclear Power Corporation of India Ltd (NPCIL) for capital funding and other financial services.
The company is currently exploring opportunities to finance hydro-electric power projects being developed in Nepal and Bhutan.