PFC sanctioned over Rs 1,000 billion loans in FY20

Power Finance Corporation (PFC) sanctioned loans over Rs 1,000 billion for power projects during 2019-20 despite the challenges due to Covid. Loans disbursement were Rs 680 billion by the company.

PFC’s net non-performing assets (NPAs) reduced to 3.8 per cent in 2019-20 from 4.55 per cent in the preceding fiscal. During the year, PFC registered 16 per cent growth in its standalone revenue. PFC’s net profits were Rs 67.88 billion for 2019-20 as compared to Rs 69.53 billion in the corresponding period. During 2019-20, the company resolved two stressed projects – Rattan India Amrawati and GMR Chhattisgarh worth Rs 27 billion.

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