Comments
State-run Power Finance Corporation (PFC) has reported a ₹3,557 crore profit after tax for the first quarter of the financial year 2020-2021. This is a 23 per cent increase from the ₹2,900-crore bottom-line reported by the company in the same quarter of the last fiscal.
The company also reported a 16 per cent increase in consolidated revenue from operations to ₹16,914 crore in the quarter ended June 2020 compared with ₹14,595 crore in the quarter ended June 2019.
PFC and its subsidiary Rural Electrification Corporation (REC) has so far sanctioned more than ₹60,000 crore under the ₹90,000-crore power distribution companies (discoms) liquidity support announced by the Centre under the Aatma Nirbhar Bharat Abhiyaan.
PFC also reported a reduction in consolidated net non-performing asset ratio to 3.15 per cent in the quarter under review, down from 4.20 per cent in the same quarter of the previous fiscal.
Shares of PFC traded 3.82 per cent higher at ₹95.15 a scrip on the BSE.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.