Page 5 - Pfc

Power Finance Corp pays Rs 887 crore as interim dividend to govt for FY22

Power Finance Corporation on Friday said it has paid Rs 886.97 crore as an interim dividend to the government for the financial year 2021-22. This is in addition to Rs 333 crore and Rs 370 crore paid as first and second interim dividend, respectively, earlier, Power Finance Corporation (PFC) said in a statement. PFC CMD Ravinder Singh Dhillon presented the interim dividend RTGS (Real Time Gross Settlement) intimation advice of Rs 886.97 crore to Minister for Power, New & Renewable Energy RK Singh in the presence of the Power Secretary Alok Kumar and other senior ministry and company officials. The third interim dividend at a rate of Rs 6 per equity share of face value Rs 10 each was declared by the Board of Directors in its meeting held on February 11, 2022. "With this, PFC has so far paid interim dividends amounting to Rs 2,838 crore to its shareholders...for the financial year 2021-22, which is the highest ever dividend paid by PFC," it said.

PFC net profit rises nearly 24% to Rs 4,893 cr in December quarter

The company had reported a consolidated net profit of Rs 3,963.18 crore in the quarter ended December 2020, a BSE filing stated

Sterlite Power acquires transmission project from PFC Consulting

Power transmission infrastructure developer Sterlite Power on Tuesday said it has acquired the Nangalbibra-Bongaigaon inter-state transmission project from PFC Consulting.

Nandish Shah of HDFC Securities is bullish on this power-related stock

The stock price of PFC has broken out from the downward slopping trendline on the weekly chart

Power Finance Corp issues maiden Euro Green Bond, aims to mop up £300 mn

The 7-year instrument has been priced at 1.841%, which PFC says is the lowest yield locked in by an Indian issuer in Euro markets

PFC issues 300 million euro bonds for 7-year period in European market

State-owned PFC on Thursday said it has issued bonds worth 300 million euros for a period of seven years.

PFC posts multifold jump in net profit to Rs 3,906 crore in March quarter

The firm's board has recommended a final dividend of Rs 2 per share with the face value of Rs 10 per share for 2020-21.

REC, PFC sign pact to finance 600-megawatt hydropower project in Bhutan

KHEL is the first JV being undertaken between the two governments for implementation of the 4x150 MW Kholongchhu hydroelectric project

PFC plans to raise Rs 1.18 trillion, eyes domestic retail bond market

Fund will help the firm make up for the loss in borrowing during lockdown

Central bank's proposals on dividend payouts weigh on state-owned NBFCs

The RBI has proposed that the payouts from next financial year will depend upon factors such as capital adequacy, non-performing asset ratio and leverage ratio.

Power Finance Corporation net profit up 72% to Rs 4,290 cr in Sept quarter

Its net profit was Rs 2,497 crore in the quarter ended September 30, 2019

Renewable, T&D assets dominate PFC & REC loan books as thermal loses steam

Stress in conventional power generation space and no new private investment in the sector see the two lenders gradually shift to newer areas

Govt to set up National Recruitment Agency to hold common govt job exam

Three airports of Jaipur, Thiruvanthapuram and Guwahati to be leased out for development, operation and maintenance under PPP for 50 years

PFC eyeing over 25% growth in funds from capital gain bonds this fiscal

State-run Power Finance Corporation Limited (PFC) is targeting higher fund flow from 54EC capital gain bonds in the last two quarters of this fiscal

PFC ties up with IIT-Kanpur for research, training in smart grid technology

State-owned Power Finance Corporation (PFC) on Wednesday said it has signed an agreement with the Indian Institute of Technology- Kanpur for training, research, and entrepreneurship development in smart grid technology. As per the memorandum of association, the PFC will provide financial assistance of Rs 2.38 crore (Rs 2,38,97,000) to IIT-K under its CSR initiative. The objective of the pact is to provide support to IIT-K in developing infrastructure for research and development on smart grid technology, R Murahari, Executive Director (CSR&SD), PFC, said. As part of the project, the IIT-K will also provide training on smart grid technology to 90 participants and provide fellowship to nine selected candidates for development of ideas on smart grid technology. The fellows will be assisted by startup Innovation and Incubation Centre (SIIC) of IIT-K and encouraged to take up entrepreneurial activities.

PFC ends FY20 on a strong note, with loan sanctions of over Rs 1 trillion

State-owned financier Power Finance Corporation has ended financial year 2019-20 on a strong note, despite numerous challenges, including the outbreak of Covid-19

PFC lends Rs 22,000 cr to Narmada Basin Projects for 225 Mw hydel project

A wholly-owned company of the Madhya Pradesh govt, is building as many as 12 projects

PFC continues to fund non-performing coal assets despite mounting NPAs

PFC and REC have lent extensively to coal-fired power projects, with Rs 3.43 trillion, or 54% of their total loan books exposed to thermal power

PFC lists $750 million bonds at NSE IFSC; increases foreign borrowing

Looking at resolving 4 more stressed power assets this fiscal

Power Finance Corporation raises $750 million through overseas bonds

This is PFC's third international bond issuance in FY20 as well as the largest bond in a single tranche