REC third quarter net profit jumps 16 per cent to Rs 1,274 crore

Sarkaritel
By Sarkaritel February 8, 2019 20:59


Mumbai, 8th February 2019: The Board of Directors of REC Limited (Formerly Rural Electrification Corporation Limited) approved the unaudited standalone financial results for Q3 and 9M FY19 today.

Highlights – Q3 FY19 vs Q3 FY18

– Sanctions – Rs. 28,587 crore vs. Rs. 38,885 crore

– Disbursements – Rs. 19,727 crore vs. Rs. 12,892 crore, up 53%

– Total Income – Rs. 7,257 crore vs. Rs. 5,637 crore, up 29%

– Profit before Tax – Rs. 1,830 crore vs Rs. 1,506 crore, up 22%

– Net Profit – Rs. 1,275 crore vs Rs. 1,097 crore, up 16%

Highlights – 9M FY19 vs 9M FY18

– Sanctions – Rs. 96,357 crore vs. Rs. 95,053 crore, up 1%

– Disbursements – Rs. 52,269 crore vs. Rs. 39,427 crore, up 33%

– Total Income – Rs. 19,131 crore vs. Rs. 16,792 crore, up 14%

– Profit before Tax – Rs. 6,466 crore vs Rs. 4,901 crore, up 32%

– Net Profit – Rs. 4,508 crore vs Rs. 3,580 crore, up 26%

State-owned power sector lender Rural Electrification Corporation (REC) today posted a 16 per cent jump in standalone net profit at Rs 1,274 crore for the quarter ended December 2018 as against a net profit of Rs 1,096 crore posted in the corresponding quarter last fiscal.

The company’s total income also jumped 28 per cent to Rs 7,257 crore for the December quarter as compared to Rs 5,637 crore posted in the same quarter last fiscal.

The power projects financier said its total interest expenditure during the quarter grew 8 per cent to Rs 4,081 crore as compared to Rs 3,778 crore in spent in the same quarter last fiscal.

Sarkaritel
By Sarkaritel February 8, 2019 20:59