New Delhi: State-run lending agency Power Finance Corporation (PFC) posted 17% jump in its net profit at Rs658.8 crore for the quarter ended 31 December 2010, reports PTI.
The company had recorded a net profit of Rs563.6 crore for the quarter ended 31 December 2009, the company informed the Bombay Stock Exchange.
Total income of the company increased to Rs2,581 crore for the quarter ended 31 December 2010 compared to Rs2,030 crore in the same period last fiscal.
PFC, which is engaged in financing power generation, transmission and distribution projects, is likely to come up with a follow-on offer to raise about Rs7,000 crore in May this year.
The power ministry, the parent ministry of PFC, had sent a proposal for a 15% fresh equity and 5% disinvestment of government stake in the company in November, last year.
At present, the government holds 89.78% stake in the firm. It had divested a 10% stake through an initial public offer in 2007.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )
