New Delhi (NVI): India’s financial backbone in Power Sector, Power Finance Corporation Limited (PFC), has ranked 33rd out of Top 500 list of Indian companies by the Fortune Magazine.
PFC has jumped a rank higher from 2019 when it was ranked 34th by Fortune India.
The list was published by Fortune India, which is part of the Kolkata-based RP Sanjiv Goenka Group.
PFC ranked at ‘33’ out of ‘Top 500’ Indian Companies by the prestigious Fortune Magazine. Moment of great honour and pride to all PFCians! https://t.co/FTXksLd7Wm @power_pib @MinOfPower #fundingforabrightertomorrow pic.twitter.com/WoW0ylxtt2
— Power Finance Corp. (@pfclindia) December 4, 2020
PFC posted a 14.94 per cent rise in its revenue in fiscal year 2019. PFC’s FY19 revenue stood at Rs 62,296 crore.
However, PFC’s profit for FY19 was 28.21 per cent less than last year and stood at Rs 7,122 crore.
Power Finance Corporation Ltd. is an Indian financial institution established in 1986, it is the financial back bone of Indian Power Sector.
Overall, the revenue of the Fortune India 500 companies in the 2019 list grew by 9.53 per cent, while profit grew 11.8 per cent.
A total of 57 companies dropped off the list for reasons including consolidation within the public sector banks, public sector undertakings, as well as the private sector.
Oil-to-telecom conglomerate Reliance Industries Ltd topped the list.
Indian Oil Corporation Ltd (IOC), the nation’s biggest oil firm, bagged the second spot, followed by Oil and Natural Gas Corporation (ONGC) at the third.
-CHK
