Shimla, June 01: Power Finance Corporation on Saturday posted its record profit after tax of Rs 1080 crore during 2002-03, an increase of 37.1 per cent over the previous year's profit of Rs 778 crore. The profit before tax was Rs 1345 crore in 2002-03 as compared to Rs 963 crore in previous year, an increase of 39.6 per cent, a PFC release said here.

PFC reduced its interest liabilities from 50 per cent to 44.6 per cent during the year and sanctioned all time high loans of Rs 14,001 crore against a target of Rs 7500 crore, an increase of 86.7 per cent.
PFC made disbursements of Rs 7338 crore against a target of Rs 4500 crore, much higher than the MoU under ‘excellent’ target of Rs 4800 crore, company chairman and Managing director A A Khan was quoted as saying.
He said the recovery rate was 99 per cent against the target of 92 per cent with nil non-performing assets. Bureau Report