Page 59 - August-2020-Issue

PFC ends FY 2019-20 on strong note

with Loan Sanctions of more than ` 1 Lakh Cr.

ower Finance Corporation by strong IT infrastructure, stressed projects – Rattan India
(PFC), focused on the power PFC managed this feat of size- Amrawati & GMR Chhattisgarh
Psector, ended financial year able disbursement even though worth ` 2,700 cr.
2019-20 (April-March) on a strong the employees were working In spite of challenging environ-
note despite numerous chal- from home. ment, YOY Net Profit is com-
lenges including outbreak of During the year, PFC also regis- parable at ` 6788 cr. for FY20
COVID-19. The lending institu- tered 16% growth in its stand- as against ` 6953 cr. of FY19
tion delivered a sound financial alone revenue while it managed excluding one-time impact of
performance with loan sanc- 16bps reduction in cost of funds. DTA due to change in corporate
tions of more than ` 1 lakh crore The net NPAs of the company re- tax rate. Profit has also been im-
along with Loan Disbursements duced to 3.8% from 4.55%, show- pacted due to extraordinary ex-
of about ` 68,000 cr. in the last casing the robust performance of change rate variation of 6% in the
financial year. The highlight of the lender. Further, the Company last 45 days of FY20.
the year was disbursement of registered a 10% growth in its Financial highlights of FY 2019-
` 11,000 cr. in the last week of Loan Assets, 16% bps reduction in 20 (Consolidated basis) include;
March 2020 despite the nation- cost of funds, and 16bps increase 15% Revenue Growth, 12% Loan
wide lockdown to contain the in Interest Spread. Further, dur- Asset Growth, Net NPAs reduced
spread of COVID-19. Backed ing the fiscal, PFC resolved two to 3.57% from 4.20%.

HUDCO Organizes Webinar to mark

6 International Yoga Day
th

ousing and Urban Deve- shared information about the especially during the current
lopment Corporation sanitation/ social distancing/ pandemic COVID-19, through
HLtd. (HUDCO), orga- health care measures taken by the use of Unani, Siddha and
nized a Webinar on ‘AYUSH HUDCO to ensure a safe working Ayurvedic medicines along with
for Holistic Healthcare during environment. The key speaker, practice of Yoga. The webinar
COVID Outbreak', to mark the 6 Dr. D. C. Katoch, Joint Advi- was attended by over 1000 par-
th
International Yoga Day. The Chief sor, Department of AYUSH, pro- ticipants which included officials
Guest Mr. Durga Shanker Mishra vided tips on self-care protocol from HUDCO pan-India, as well
Secretary, MOHUA stressed the for holistic and healthy living, as MoHUA.
benefits of traditional Indian
medicine systems in boosting im-
munity and promoting wellbeing
by achieving a healthy balance
between mind and body. Further,
he highlighted the revival of
these systems, which have been
an integral part of Indian culture,
and now their global acceptance.
Mr.. M. Nagaraj, CMD, HUDCO

59