Daily Management Review

The PFC Of India Enjoys An Increment In Its Net Profit Worth ‘2.6%’


02/12/2016


The Power Finance Corporation reveals an increment in its net profit figure in a comparison with its previous fiscal year’s corresponding quarter.



The “Power Finance Corporation” of India which is under state level government announced a marginal rise of “2.6%” in the “standalone net profit” in the last quarter of 2015 adding to the “higher income”. According to a BSE filing of the company, it had reported a “net profit” worth “Rs 1,541.73 crore” in the earlier year.
 
Comparatively, the operational income increased and added to the total sum whereby it rose from “Rs 6,374.52 crore” to “Rs 6,991.18 crore”; while the income on the interest’s front shot up by “9.3% to Rs 6,870.58 crore” as oppose to its corresponding previous year’s figures of “Rs 6,284.26 crore”.
 
Moreover, the previous fiscal year’s loan assets stood at “Rs 2,03,477 crore” in the corresponding quarter which augmented by thirteen percent to “Rs 2,28,950 crore”. The Power Finance Corporation or the PFC is “an infrastructure finance company”. It has been involved with “state power utilities” through “financial assistance” so that the latter could meet the requirements on the developmental front expected from the power sector.
 
Being the “nodal agency”, PFC saw to the implementation of the UMPPs, namely the “ultra mega power projects”. In a statement, the PFC informed:
"...during the current, quarter Jharkhand Infra Power Ltd, a wholly-owned subsidiary company has been incorporated for developing ultra mega power project in Jharkhand. The equity infusion in the subsidiary company is yet to be made”.
 
While, during another filing of BSE, it stated:
"The board of directors of the company at its meeting held on February 9, 2016, inter alia, have declared and approved the payment of second interim dividend at Rs 4.5 per equity share on the face value of the paid-up equity shares of Rs 10 each for FY 2015-16."
 
PFC is to pay the dividend on the 24th February 2016, while:
“The shares of the company closed 4.52% down, at Rs 172.30 apiece on the BSE”.









References:
http://www.dnaindia.com/
 







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