PFC reports 9% jump in Q1 net profit
Power Finance Corporation (PFC) has reported results for first quarter ended June 30, 2016. The company has reported 8.65 per cent rise in its net profit at Rs 1712.55 crore for the quarter ended June 30, 2016 as compared to Rs 1576.21 crore for the same quarter in the previous year. The company’s total income increased by 5.91% to Rs 7158.66 crore for the quarter under review from Rs 6759.10 crore for the corresponding quarter of the previous year. PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.