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Saturday, Aug 02, 2003

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Money & Banking - Financial Performance

PFC net zooms to Rs 870 crore

Our Bureau

New Delhi , Aug. 1

POWER Finance Corporation (PFC) has recorded a net profit of Rs 870 crore on an income of Rs 1,408 crore for the first quarter of the current fiscal ended June 30, 2003.

During the corresponding period last year, the company has registered a net profit of Rs 391 crore on an income of Rs 746 crore.

This translates into a 122 per cent in net profit and an 89 per cent rise in turnover for the period under review.

The improved performance is largely on account of the change over in the accounting policy of the corporation from April 1, 2003.

The corporation has moved over to accounting on accrual basis as against cash basis prior to April 1, 2003.

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Arvind Remedies PAT up 106 pc
PFC net zooms to Rs 870 crore
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Bajaj Tempo net up at Rs 13.08 cr in Q1
Agro Tech Foods incurs Rs 30 lakh loss
IVRCL net jumps to Rs 6.46 cr
Ramco Systems posts Rs 15 crore net loss
Tata Infotech posts Rs 12-cr net in Q1
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