PFC SELLS TWO TRANSMISSION SUBSIDIARIES FOR Rs 11.12 CRORE

, a Maharatna Government of India undertaking, has completed the sale and transfer of two wholly owned subsidiaries involved in power transmission projects for an amount of Rs 11.12 crore. The two entities, Latur REZ Transmission Limited and Raigad Power Transmission Limited, were established through PFC Consulting Limited for the development of transmission infrastructure projects. However, both subsidiaries had a negligible contribution to the company’s turnover, revenue, income and net worth during the preceding financial year. Having a market cap of Rs 1,07,435 crore, the company has been maintaining a strong dividend yield of 5.69% making it a good opportunity for regular income. Recently, REC has got merged into PFC which will add to the networth of the company.