Provident fund investment issues to impact UPPCL financials: Ind-Ra

New Delhi: The likely loss to Uttar Pradesh State Power Sector Employees Trust due to investments in controversial Dewan Housing Finance Ltd (DHFL) will have an impact on UP Power Corporation Ltd’s (UPPCL’s) financial performance, according to India Ratings and Research (Ind-Ra).

The trust manages retirement funds of people employed by UPPCL and its subsidiaries. It has investments of Rs 4,300 crore of which Rs 2,600 crore were in DHFL. Of these, Rs 1,000 crore have been realised.