New Delhi, Sept 25: Power Finance Corporation has paid an all-time high dividend of Rs 235 crore for 2002-03. PFC had earlier paid Rs 212 crore interim dividend, a company release said.
Chairman A A Khan presented the cheque for the amount to Power Minister Anant Geete on September 23, 2003.
The corporation had joined the group of dividend-paying PSUs in 1993-94 by declaring a dividend of Rs 10 crore. Since then, it has been paying consistently high dividends to the government.
PFC recorded 50.6 per cent rise in its net profit at Rs 1,172 crore in 2002-03, against Rs 778 crore in 2001-02.
It also registered an impressive 64.6 per cent growth in its sanctions to touch Rs 14,001 crore last fiscal as against Rs 8,506 crore in the previous fiscal.
PFC's disbursements rose 42.5 per cent at Rs 5,150 crore.
The company has a high recovery rate of 99 per cent with nil non-performing assets (NPAs).
The disbursement per employee touched Rs 18.9 crore and profit per employee stood at Rs 4.3 crore in 2002-03.

Bureau Report