PFC reports loan growth of 14% YoY, continues as largest NBFC Group
Net Interest Income (NII) for the quarter stood at Rs 4,237 crore, which is flat compared to the December quarter and up 22 per cent compared to the same period last year.
Power Finance Corporation Ltd (PFC), a Maharatna CPSE and the country’s leading NBFC in the power sector, has won the prestigious ‘South Asian Federation of Accountants’ (SAFA) Gold Award in the ‘Best Presented Accounts /Annual Report Awards’ (BPA) for the Financial Year
2020-21 in the ‘Public Sector Entities’ category.
According to an official statement, PFC was bestowed with this coveted award for its highest level of transparency in accounting practices and for achieving excellence in the presentation and disclosure of high-quality, relevant, reliable and objective financial statements in accordance with the international framework.
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The SAFA BPA Award is considered the most prestigious accolade for financial reporting in the entire South Asian region. This is the first time since the inception of these awards in 1997 that any Indian Company has won ‘Gold’ in the category of ‘Public Sector Entities.’
It is worth mentioning here that PFC had earlier won the ICAI (Institute of Chartered Accountants of India) award for excellence in financial reporting in the ‘Public Sector Entities’ category for the Financial Year 2020-21. Based upon the quality of financial reporting, ICAI every year selects a few entries out of the awardees of excellence in financial reporting for sending to SAFA, which this year included PFC.
The financials of PFC competed against entries from entire South Asian Companies and was ultimately declared the winner by the jury. Parminder Chopra, Director, Finance, R K Malhotra, ED, Finance, and Mohammad Salim, GM, Finance, PFC, received this prestigious award at the award distribution ceremony held on 18th December 2022 in Kathmandu, Nepal.
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