PFC likely to raise $250 million via ECBs

Power Finance Corporation is likely to raise $250 million through external commercial borrowings (ECBs).  The company is planning to use these funds for coal mining projects overseas from which coal will be brought to India.

Company has reported a rise of 34.69% in its net profit at Rs 818.30 crore for the quarter ended March 31 as against Rs 607.53 crore in the corresponding period last year. The total income from operations during the fourth quarter has increased by 40.44% to Rs 3,684.29 crore from Rs 2,623.42 crore in the year-ago period.