State-run Power Finance Corporation (PFC) is looking to raise US $ 1 billion through ECB. “The company’s target for the current year is 27,000 crore, and to maintain capital adequacy we might have to go to the capital market in a year’s time”, said Satnam Singh, chairman PFC. Company’s net profit declined by 40.43 per cent to Rs 598.79 crore versus Rs 1,005 crore for the fourth quarter ended 31 March, over the same period previous fiscal. Total income rose to Rs 2,079.94 crore for the fourth quarter, compared to Rs 1,816.93 crore in the same period last fiscal, PFC said in a BSE filing. For the year ended 31 March, 2010, the company posted a net profit of Rs 2,355.26 crore, compared to Rs 1,969.95 crore in the previous fiscal. The company’s total income rose to Rs 8,002.09 crore for the year ended 31 March, 2010, compared to Rs 6,557.36 crore in the corresponding fiscal.

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