Power Finance Corporation reports 42% rise in Q1 net profit

Power Finance Corporation has reported results for first quarter ended June 30, 2012.

On standalone basis, the company has reported a rise of 41.63% in its net profit at Rs 971.88 crore for the quarter, as compared to Rs 686.19 crore for the same quarter in the previous year. Total income of the company has increased by 34.91% to Rs 3944.86 crore for the quarter under review as compared to Rs 2924.13 crore for the quarter ended June 30, 2011.

PFC provides large range of financial products and services like project term loan, lease financing, direct discounting of bills, short term loan, and consultancy services for various power projects in generation, transmission, distribution sector as well as for renovation and modernization of existing power projects.