Power Finance Corporation's Profit Surge Amidst Strategic Adjustments

State-owned Power Finance Corporation (PFC) registered a robust 10.61% growth in consolidated net profit, amounting to Rs 8,358 crore, largely due to increased interest income, according to figures released on Wednesday.

PFC's Chairman and Managing Director, Parminder Chopra, elaborated on the strategic directions for the company, highlighting a targeted 10-11% loan growth for FY26, primarily driven by investments in the private renewable sector. Chopra also detailed challenges related to an outstanding Rs 263 crore from Gensol Engineering, emphasizing recovery efforts.

While tackling fiscal instruments impairments which surged to Rs 1,221 crore in the March quarter, the company plans to borrow Rs 1.4 lakh crore in FY26, with international borrowing playing a significant part. Chopra assured that PFC's credit strategy remains robust, despite hurdles with specific accounts like Gensol.

(With inputs from agencies.)