Project comprises about 1,500 km of 765 kV and 400 kV transmission lines, five sub-stations in UP State-run Power Finance Corporation (PFC) on Saturday said that it has successfully resolved the Corporate Insolvency Resolution Process (CIRP) of India’s largest stressed asset in the transmission sector, South East UP Power Transmission Company. PFC was the lead […]
Manoj Sharma assumes charge as Director (Commercial) at Power Finance Corporation – EQ Mag Pro
Manoj Sharma joined PFC in 1990 and was working as Executive Director (In-charge) of the Commercial Division before assuming charge as Director (Commercial) New Delhi : Manoj Sharma assumed charge as Director (Commercial) at Power Finance Corporation (PFC) Ltd, a Maharatna CPSE company and India’s leading power sector-focussed non-banking financial firm on Monday. Sharma is […]
Power Finance Corporation inks loan pact with JBIC for JPY 30 bn – EQ Mag Pro
The funds would be used by PFC to finance its renewable energy portfolio State-owned Power Finance Corporation (PFC) on Thursday inked a loan pact for JPY 30 billion with Japan Bank for International Cooperation (JBIC). “PFC has signed a loan agreement for JPY 30 Billion with Japan Bank for International Cooperation (JBIC) on 7th July, […]
PFC-REC make further reduction in lending rates – EQ Mag Pro
State-owned Non-Banking Financial Companies, Power Finance Corporation and REC Limited have further reduced their lending rates across all types of loans by 40 Bps. Union Minister for Power and New & Renewable Energy Shri R.K. Singh expressed satisfaction at the continued efforts by both companies to reduce rates and remain competitive. Shri Singh said that […]
Power Finance Corporation Logs Highest Ever Net Profit of Rs 8,444 Cr For FY 21, Up 49% On Y-o-Y Basis
Power Finance Corporation (PFC) non-banking financial firm under Ministry of Power records highest ever net profit of 8,444 cr for FY 21, up 49% on year on year (Y-o-Y) basis. Highest Annual Profit after tax ( PAT ) of Rs.8,444 cr. 49% jump in Standalone Profit After Tax from FY ’20 . PAT at Rs.8,444 […]
Discoms’ outstanding dues to power gencos rise nearly 24pc to Rs 1.36 lakh crore in Dec
The distribution companies (discoms) owed a total of Rs 1,10,660 crore to power generation firms in December 2019 New Delhi: Total dues owed by electricity distribution companies to power producers rose nearly 24 per cent to Rs 1,36,966 crore in December 2020 compared to the same month a year ago, reflecting stress in the sector. […]
PFC Rs 5K cr bonds issue over-subscribed, closed 11 days ahead of schedule
Power Finance Corporation (PFC) has planned to raise Rs 10,000 crore through bonds in two tranches. State-run Power Finance Corporation’s Rs 5,000 crore taxable non-convertible debentures (NCDs) issue was subscribed close to nine times on Monday and closed for subscription 11 days ahead of the schedule, according to the BSE data. Power Finance Corporation (PFC) […]
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 […]
Loans worth Rs 1.18 lakh crore sanctioned under discom liquidity package
In May, Finance Minister Nirmala Sitharaman had announced Rs 90,000 crore liquidity infusion into cash-strapped discoms facing demand slump due to the COVID-19 crisis. New Delhi: Loans worth Rs 1.18 lakh crore have been sanctioned so far by state-run non-banking finance firms Power Finance Corporation and REC Ltd under the liquidity package for stressed power […]
Discoms’ outstanding dues to power gencos rise 37 percent to Rs 1.33 lakh crore in August
In August 2020, the total overdue amount, which was not cleared even after 45 days of grace period offered by generators, stood at Rs 1,20,439 crore, as against Rs 78,646 crore in the year-ago period. NEW DELHI: Power producers’ total dues owed by distribution firms rose over 37 per cent year-on-year to Rs 1.33 lakh […]