Power Finance Corp’s net rises 63 percent

June 15th, 2009 - 7:23 pm ICT by IANS  

Mumbai, June 15 (IANS) The net profit of state-run power infrastructure financing company Power Finance Corp increased by 63 percent to almost Rs.1,970 crore last fiscal from about Rs.1,207 crore in 2007-08, it announced Monday.
“The increase in net profit is mainly due to reversal of deferred tax liability of Rs.61,651.32 lakh (Rs.616.5 crore),” the company said in a regulatory statement.

The company’s consolidated turnover increased 31.6 percent to Rs.6,572.02 in 2008-09 from about Rs.4,993 the year before.

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