Will raise $250m via overseas borrowings: PFC

State-run Power Finance Corporation (PFC) today reported a near 16% increase in net profit at Rs 3,032 crore for the financial year ended March 31, 2012.

The company had recorded a net profit of Rs 2,620 crore in 2010-11. Total income of the company in 2011-12 increased to Rs 13,037 crore, a rise of 28% from Rs 10160.5 crore in the previous financial year. It reported a massive growth of 35% year-on-year in its net profit of Rs 820 crore for Q4FY12. Analysts on average had expected profit after tax at Rs 765 crore for the quarter. Total income of the company jumped 41% to Rs 3,683 crore for the quarter ended March 2012 as against Rs 2,617 crore in a year ago period. PFC during 2011-12 fiscal mobilised Rs 126.19 crore through long-term infrastructure bonds issue. Besides, it garnered about Rs 5,000 crore through tax free bonds, of which Rs 4,033 crore were raised through public issue, PFC Chairman and Managing Director Satnam Singh said while announcing the company's annual results here. PFC further plans to raise USD 250 million via overseas borrowings, he added. Also watch the accompanying video