REC Limited Pays Rs.200.41 Crore as Final Dividend for the FY2017-18 to the Ministry Of Power

Sarkaritel
By Sarkaritel October 17, 2018 06:11

REC Limited Pays Rs.200.41 Crore as Final Dividend for the FY2017-18 to the Ministry Of Power


New Delhi, October 17, 2018 : Dr. P V Ramesh, Chairman and Managing Director of Rural Electrification Corporation Limited (REC), a NavratnaPSU under Ministry of Power (MoP), presented RTGS Intimation advice towards payment of Final Dividend for the Financial Year 2017-18, amounting to Rs.200.41 crore on the shareholding of Government of India in REC, to Shri R.K. Singh, Hon’ble Minister of State for Power & Renewable Energy (Independent Charge) on Tuesday, October 16, 2018 in the presence of Shri Ajay Kumar Bhalla, Secretary and senior officials from MoP& REC. This is in addition to Rs.852.24 crore paid as Interim Dividend for the Financial Year 2017-18 to the Government of India. The Company paid a total Dividend of Rs.1,807.05 crore (91.50% on the paid-up share capital) for the Financial Year 2017-18, which includes Interim Dividend of Rs.1,461.44 crore and Final Dividend of Rs.345.61 crore.

During the Financial Year 2017-18, the Company sanctioned Financial Assistance of Rs.1,07,534 crore and disbursed an amount of Rs.61,712 crore to various power sector borrowers. Further, the Net worth of the Company as on March 31, 2018 increased by 6% to Rs.35,491 crore from Rs.33,326 crore in the previous year.

During the quarter ended 30th June, 2018, the Company sanctioned Financial Assistance of Rs.18,767 crore and disbursed an amount of Rs.8,316 crore to various power sector borrowers. The Profit after Tax for the First quarter of financial year 2018-19 was Rs.1,469 crore.

Sarkaritel
By Sarkaritel October 17, 2018 06:11

Search the Website

Advertiser’s Logo