State-owned lender to the energy sector, Power Finance Corporation’s (PFC) revenue for the first quarter (Q1) of the financial year (FY) 2026-27 remained flat at ₹285.27 billion (~$2.98 billion), compared to ₹285.39 billion (~$2.98 billion) during the same period the previous year.

Profit also remained flat at ₹89.98 billion (~$940.28 million), compared to ₹89.81 billion (~$938.56 million) a year before.

Diluted earnings per share for the quarter stood at ₹21.25 (~$0.22), up 2.1% year-over-year (YoY) from ₹20.81 (~$0.22).

The company’s outstanding loans at the end of June this year stood at ₹11.60 trillion (~$121.23 billion).

PFC’s disbursements to the government sector stood at ₹141.7 billion, whereas to the private sector stood at ₹60.1 billion.

The company’s total investments in India stood at ₹114.79 billion as of June 30, 2026.

PFC’s total borrowings, other than debt securities, stood at ₹3.49 trillion as of June 30, 2026.

The company’s loans to renewable generation stood at ₹845.8 billion, including ₹654.8 billion to solar, wind, and other renewable projects, excluding large hydro projects.

Business Highlights

This June, the boards of directors of PFC and REC Limited approved a scheme to merge the two public sector non-banking financial companies that lend to power and infrastructure projects. Under the arrangement, the two companies have agreed to a share-swap ratio of 88 PFC shares for every 100 REC shares held. The companies said the merged entity would have an aggregate loan book of over ₹11 trillion (~$116.37 billion).

Earlier in March, PFC’s board approved a plan to borrow up to ₹1.6 trillion (~$17.16 billion) from domestic and international markets through a wide range of instruments for the financial year  2026-27. As per the plan, the company will raise up to ₹1.1 trillion (~$11.81 billion) through domestic long- and medium-term borrowings, including capital gain bonds, public issues or private placements of taxable or tax-free bonds, debentures and debt securities, non-convertible, infrastructure, inflation-indexed, structured, green, social, and ESG bonds.

PFC reported consolidated revenue from operations of ₹289.20 billion (~$3.03 billion) in Q4 of FY 2026, down 1.2% YoY from ₹292.65 billion (~$3.06 billion).