PFC Q3 net down 12 pc to Rs 3,386 cr

State-run Power Finance Corporation reported a 12 per cent dip in consolidated net profit at Rs 3,386.72 crore in the December quarter.

The company's net profit stood at Rs 3,876.17 crore in the year-ago quarter, a BSE filing said.

Total income rose to Rs 15,878.04 crore during October-December from Rs 14,050.95 crore a year ago.

During April-December, consolidated net profit was at Rs 8,783.55 crore as compared with Rs 9,249.01 crore a year ago.

Its consolidated net profit stood at Rs 12,640.27 crore in 2018-19.

The company's board also approved an interim dividend of Rs 9.50 per equity share for 2019-20.

It has fixed March 2, 2020 as the 'Record Date' for ascertaining eligibility of shareholders for payment of interim dividend.

The board has fixed the company's borrowing limit at Rs 90,000 crore for 2020-21, which includes Rs 55,000 long-term borrowing like term loans, bonds.

Besides, the company can also raise Rs 15,000 crore through long term foreign currency bonds, Rs 5,000 crore via short term borrowings and Rs 15,000 crore via commercial papers.

The company has revised the borrowing limit for 2019-20 fiscal year to Rs 1 lakh crore. Last year in March, the company had set a borrowing limit of Rs 81,000 crore for the current financial year.