REC DECLARES ITS QUARTERLY FINANCIAL RESULTS FOR Q3 & 9M FY20

Sarkaritel
By Sarkaritel February 5, 2020 13:06


Total income increases by 39% to Rs.7,653 crore during Q3 FY20

Asset quality continues to improve

Interim dividend of Rs. 11/- per share declared by the Board of Directors

 

The Board of Directors of REC Limited (formerly Rural Electrification Corporation Limited) approved

New Delhi, 4th February 2020: The Board of Directors of REC Limited (formerly Rural Electrification Corporation Limited) approved the unaudited standalone and consolidated financial results for Q3 and 9M FY20 today.

 

Operational and Financial Highlights – Q3 FY20 vs Q3 FY19 (Standalone)

Sanctions – Rs. 30,610 crore vs. Rs. 28,587 crore, up 7%

Disbursements – Rs. 19,856 crore vs. Rs. 19,727 crore, up 1%

Total Income – Rs. 7,653 crore vs. Rs. 5,512 crore, up 39%

Net Profit – Rs. 1,642 crore vs Rs. 1,275 crore, up 29%

 

Financial Highlights – Q3 FY20 vs Q3 FY19 (Consolidated)

Total Income – Rs. 7,717 crore vs. Rs. 5,538 crore, up 39%

Net Profit – Rs. 1,667 crore vs Rs. 1,284 crore, up 30%

During the current quarter, the Company has registered a growth of 29% with a Net Profit of Rs. 1,642 crore during Q3 FY20, as against Rs. 1,275 crore during Q3 FY19. For the quarter ended 31st December 2019, the Company has registered Earnings Per Share (EPS) of Rs. 8.32 as against Rs. 6.45 per share during the same quarter last year.

Keeping in view the strong financial performance of the Company, the Board of Directors has also declared an interim dividend of Rs. 11/- per share, with the record date being 12th February 2020 to ascertain the eligibility of the shareholders to receive the interim dividend.

The loan book has reflected a growth of 14% while growing from Rs. 2.69 lakh crores as at 31st December 2018 to Rs. 3.07 lakh crores as at 31st December 2019. The Net Worth of the Company stands at Rs. 38,515 crores as on 31st December 2019, with a book value per share of Rs. 195. With a healthy order book, the Capital Adequacy Ratio of the Company has also been healthy to support the future growth at 18.36% as of 31st December 2019 as against 16.84% as of 31st December 2018.

Sarkaritel
By Sarkaritel February 5, 2020 13:06