REC Q2 profit falls 31% on increased competition

Sarkaritel
By Sarkaritel November 7, 2017 09:36

REC Q2 profit falls 31% on increased competition


Rural Electrification Corporation (REC) Limited, a Navratna public sector company focussed on financing power projects announced its financial results for the half year ended 30September 2017 in a meeting held on 6November 2017.

The Total Income of the Company as on 30 September 2017 is Rs.11,290 crore. The Profit before Tax (PBT) for half year ended 30 September 2017 is Rs.3,712 crore and Profit after Tax (PAT) stands at Rs.2,516 crore.

The Net worth of the company has increased to Rs.35,145 crore up 11% compared with Rs.31,778 crore as on 30September 2016. Loan Book of the company increased to Rs.2,15,845 crore and the outstanding borrowingwas Rs.1,75,626crore. As on 30 September 2017, the company’s Gross NPAstands at 2.54% and Interest Coverage Ratio stands at 1.55%.

Total Sanctions in the second quarter isRs.56,168 crore, a 12% increase from the comparable quarter in 2016. Disbursements also grew by 2% to Rs.26,535 crore against Rs.25,908 crore as on 30September 2016.Earnings per Share (EPS) for the quarter ended 30September 2017 is Rs.12.74 per share of Rs.10/- each.

Sarkaritel
By Sarkaritel November 7, 2017 09:36