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Power Finance Corporation’s Profit After Tax (PAT) is up by 53% from Rs.1,355crore in the second quarter to Rs. 2076crore during the third quarter (October-December) of the current Financial year of 2018-19. The Net Interest Income rose by 12% to reach a figure of Rs.2,435crore as against Rs.2,180crore recorded during the second quarter of the current Financial year. Also, PFC’s Net Interest Margin has been improving over the quarters and is 3.42% for the third quarter. Further, PFC Return on Average Networth for the third quarter is 20.97%, an increase of 8% from the second quarter. Another significant aspect is that PFC’s Capital Adequacy Ratio (CRAR) has improved by more than 1% to about 18.95% from the previous quarter (Q2’19). On the loan asset front, PFC has registered a loan asset growth of 14% from the corresponding period in the previous financial year. Similarly, disbursements saw an increase of 20%.  Also, in terms of Stressed assets, the worst is behind us and we do not see any additional provisioning going forward. Further, Cabinet Committee on Economic Affairs on 6thDec 2018 has given it’s ‘In Principle’ approval for strategic sale of Government of India’s existing 52.63% equity shareholding in REC Ltd. to PFC along with transfer of management control. The endeavor is to conclude the acquisition deal by 31st March 2019. Read the full article

Power Finance Corporation’s Profit After Tax (PAT) is up by 53% from Rs.1,355crore in the second quarter to Rs. 2076crore during the third quarter (October-December) of the current Financial year of 2018-19. The Net Interest Income rose by 12% to reach a figure of Rs.2,435crore as against Rs.2,180crore recorded during the second quarter of the current Financial year. Also, PFC’s Net Interest Margin has been improving over the quarters and is 3.42% for the third quarter. Further, PFC Return on Average Networth for the third quarter is 20.97%, an increase of 8% from the second quarter. Another significant aspect is that PFC’s Capital Adequacy Ratio (CRAR) has improved by more than 1% to about 18.95% from the previous quarter (Q2’19). On the loan asset front, PFC has registered a loan asset growth of 14% from the corresponding period in the previous financial year. Similarly, disbursements saw an increase of 20%.  Also, in terms of Stressed assets, the worst is behind us and we do not see any additional provisioning going forward. Further, Cabinet Committee on Economic Affairs on 6thDec 2018 has given it’s ‘In Principle’ approval for strategic sale of Government of India’s existing 52.63% equity shareholding in REC Ltd. to PFC along with transfer of management control. The endeavor is to conclude the acquisition deal by 31st March 2019. Read the full article

Rajeev Sharma, CMD, PFC receiving the prestigious CBIP Award 2019 for “Best Power Finance Company” from Union Minister of State (I/C) for Power & NRE R.K. Singh, at a function organized at SCOPE Convention Centre, New Delhi. Other dignitaries present on this occasion were; A.K. Bhalla, Secretary (Power), C. Gangopadhyay, Director (Projects), PFC & P.K. Singh, Director (Commercial), PFC. Read the full article

Power Finance Corporation Limited (PFC), through its CSR&SD initiatives, has been undertaking projects for improving the quality of life of the society at large since 2010. PFC’s CSR activities span a wide range of areas from Education to Sanitation and Renewable Energy to Healthcare across different parts of India. In continuation of its efforts towards sustainable future, PFChas signed aMoA with South Delhi Municipal Corporation (SDMC) for setting up of a CNG crematorium in Delhi under its CSR initiatives.Under this project total 4 CNG crematoria will be built at Dwarka Sector 24 and Subhash Nagar, Delhi with financial assistance of Rs 4.55 Cr from PFC. The Memorandum of Agreement was signed during ongoing observance of SwachhataPakwadaat Civic centre, MCD office Delhi, in the presence of ShriNarendraChawla, Hon’ble Mayor – SDMC, Ms. Shikha Rai, Chairperson, Standing Committee, SDMC, Dr Puneet Goel IAS, Commissioner – SDMC and Shri Rajeev Sharma CMD – PFC. Directors and Sr officials of PFC and SDMC also graced the occasion. Traditional Cremation process in India consumes lot of fuel wood. Cremation process is also associated with Environmental problems like Air and Water (River) pollution and greenhouse gas emissions. The proposed CNG crematorium would save the environment from degradation and bolster PFC’s efforts towards Climate Change. Earlier, in the morning in an event under SwachataPakhwada, Secretary (Power) inaugurated Composter Machine installed by PFC at KalkajiMandir. CMD PFC, Chairman SDMC and other senior officials graced the occasion. Composter Machine under controlled process of conversion of organic materials into compost would help in waste management and environment improvement around KalkajiMandir. Read the full article