Power Finance Corp net profit up 23% to Rs 3,557 crore in first quarter

NEW DELHI: State-run Power Finance Corporation (PFC) on Thursday reported a 23 per cent rise in consolidated net profit at Rs 3,557.23 crore during the quarter ended June 30, helped by rise in income.

The company had posted a net profit of Rs 2,899.74 crore during the same quarter a year ago, PFC said in a BSE filing.

Its total income rose to Rs 16,932.24 crore during the quarter under review from Rs 14,605.12 crore a year ago. Total expenses stood at Rs 12,311.18 crore as against Rs 10,553.42 crore in April-June 2019.

PFC, under the administrative control of the Ministry of Power, is the largest non-banking financial company (NBFC) in power sector in India.

(Indian PSU: All about Indian Public Sector Undertakings. Follow @IndianPSUs for Indian, Global News and Views on PSUs, Corporates, Bureaucracy, Public Policy, Banks, Defence and Breaking News)

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