Public Sector Indian Renewable Energy Development Agency (IREDA) under Ministry of New and Renewable Energy reported an all-time high annual Profit Before Tax (PBT) of 570 crore rupees in the financial year 2020-21 that was severely affected by Covid 19 Pandemic. The PBT of the company was Rs. 241 crores during FY 2019-20. The company […]
PFC pays interim dividend of Rs 1182.63 crore to Government of India for the financial year 2020-21
Power Finance Corporation, a Navratna Central Public Sector Enterprise under Ministry of Power and India’s leading NBFC for the Power Sector has paid an interim dividend of Rs 1182.63 crore to Government of India for the financial year 2020-21 on March 31st, 2021 on 1,47,82,91,778 number of equity shares (56%) held by the government. Shri […]
PFC issues $500 mn senior unsecured dollar bonds
Power sector Non-Banking Financial Company (NBFC), Power Finance Corporation Ltd. (PFC), has raised $500 million on January 29 through issuance of dollar denominated Bonds with a fixed maturity of May 16, 2031. New Delhi: Power sector Non-Banking Financial Company (NBFC), Power Finance Corporation Ltd. (PFC), has raised $500 million on January 29 through issuance of […]
PFC net profit rises 80% to Rs 2,085 crore for the quarter ended on 30th September 2020
Total income registers an increase of 15% to Rs. 9,232 Crores Power Finance Corporation (PFC), India’s leading NBFC focused on the power sector and a PSU under Ministry of Power, for the quarter ended 30th September 2020, registered a growth of 80% in its standalone net profit to Rs 2085 crore and 14% growth […]
Smt. Parminder Chopra takes charge as Director (Finance), PFC
Government-owned Power Finance Corporation (PFC), India’s leading NBFC, today announced the appointment of SmtParminder Chopra as Director (Finance) of the company. She succeeds Shri N.B. Gupta, who superannuated on June 30 2020. Smt. Chopra was working as Executive Director (Finance) at Power Finance Corporation (PFC) before assuming charge as Director (Finance), PFC.With over 32 years […]
Central PSU of Power Ministry REC steps up relief work amidst lockdown to curb Covid-19 Pandemic
The PSU reaches out to over 76,000 needy people with food and ration The Navratna NBFC ties up with Delhi Police to provide 500 food packets on daily basis Had earlier contributed Rs. 150 Cr. to PM CARES fund From Srinagar to Kanyakumari, Jamnagar to Shillong, starvation is as much a threat as Covid-19 […]
Power Finance Corporation contributes Rs 200 crore under CSR to “PM CARES Fund” in fight against COVID-19
Power Finance Corporation Ltd (PFC), leading NBFC and the central PSU under Ministry of Power , has pledged to contribute Rs 200 crore to the “Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund” (PM-CARES Fund) to support the battle against COVID-19. The amount would be part of Rs 925 Cr.which is committed collectively […]
RBI extends priority sector classification for bank loans to NBFCs for on-lending for FY21
Earlier, the priority sector lending classification for on-lending to NBFCs was available till March 31, 2020. The RBI also said that the existing loans disbursed under the on-lending model will continue to be classified under Priority Sector till the date of repayment or maturity. he Reserve Bank of India (RBI) on Monday decided to extend […]
PFS- Budget Reaction on Power, Renewable and NBFC Sector
Budget 2020 Reaction on Power, Renewable and NBFC Sector – Dr Pawan Singh, Managing Director and CEO, PFS (PTC India Financial Services) Having provided for supporting the national infrastructure pipeline worth 103 lakh crore, announced in this budget the government is banking heavily on infrastructure to power growth of the country. The power and renewable […]
Asset quality pressures for Infrastructure Finance NBFCs persist, though receding: ICRA
The tepidness in H1FY2020 has been led by de-growth in banking sector credit to infrastructure segment, though infrastructure finance non-bank companies (IFCs) continued to grow at a modest pace (17% yoy and 12% sequential). The trajectory of total infrastructure credit in India (banks and infrastructure finance non-bank companies) has flattened in H1FY2020, as per a […]