NEW DELHI: State-run Power Finance Corporation (PFC) has set a revenue target of Rs 36,000 crore for the current financial year. PFC has signed a performance-based Memorandum of Understanding (MoU) with the Ministry of Power, detailing various targets to be achieved by it during 2020-21, a company statement said.
According to the statement, the MoU has been signed by Power Secretary Sanjiv Nandan Sahai and PFC chairman and MD RS Dhillon.
As per the MoU, PFC would eye an ambitious revenue target of Rs 36,000 crore along with various performance-related parameters such as operating profit as percentage of revenue from operation, PAT (profit after tax) as percentage of average net worth and non-financial parameters viz, IPDS-related parameters (Integrated Power Development Scheme).
"PFC has been delivering exemplary performance from the past years and the ratings from the Government of India stands testimony to the performance," the statement added.