New Delhi, Apr 02: Power Finance Corporation (PFC) said today its net profit has surged by 37 per cent to Rs 1,067 crore for the year ended March 31, 2003, from Rs 778 crore in the previous year. Total income jumped 24 per cent to Rs 2,598 crore during 2002-03 from Rs 2,096 crore a year earlier, PFC Chairman and Managing Director A A Khan told reporters here.

The state-owned power financing entity attributed the rise in net profit to reduction in interest outflow.
During the fiscal, PFC sanctioned an all-time high loans of Rs 14,001 crore, a 86.7 per cent increase over the target of Rs 7,500 crore.
Loans disbursements also touched an all-time high of Rs 7,337.5 crore during 2002-03, which was higher by 63.1 per cent over the target of Rs 4,500 crore. Bureau Report