New Delhi, May 10 :State-run Power Finance Corp (PFC) today posted a net profit of Rs 295.4 crore for the fourth quarter of FY'08, a 20.4 per cent decline over the same period a year ago. The company had a net profit of Rs 371.2 crore in the fourth quarter of FY'07. PFC's board of directors has also recommended a dividend of 35 per cent of the paid up capital of the company for the financial year 2007-08.

The company posted an annual net profit of Rs 1,206.7 crore in FY'08, compared to Rs 986.1 crore in the previous financial year. The total income of the company in the last financial year rose to Rs 5,040, from Rs 3,927 in the year-ago period.

PFC on March 31, 2008 floated a wholly-owned consultancy arm to provide services in the power sector. The subsidiary, PFC consulting, would provide consultancy services in the power sector and in the related areas.

The company would also carry out services related to ultra mega power projects.

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