Gurugram, 4th February 2022:The Board of Directors of REC Limited approved the unaudited standalone and consolidated financial results for Q3 FY22 today.
Financial Highlights – Q3 FY22 vs Q3 FY21 (Standalone)
Total Income – ₹10,039croresvs. ₹9,047 crores, up 11%
Net Profit – ₹2,773 crores vs. ₹2,263 crores, up 23%
Owing to the sound income, effective cost management and resultant quarterly profit, the annualized Earnings Per Share for the quarter ended 31st December 2021 increased to ₹56.16 as against ₹45.84 per share during the same quarter last year. Aided by growth in profits, the Net Worth has grown to₹50,258 crores as on 31st December 2021, an increase of 20% YoY.
The loan book has maintained its growth trajectory and has increased by9% to ₹3.89 lakh croreas at31st December 2021 as compared to ₹3.57 lakh crores as on 31st December 2020.The Provision Coverage Ratio against Credit impaired assets stands at 65.72% as on31st December 2021.
The Capital Adequacy Ratio of the Company stands at a comfortable 23.22% as on31st December 2021, implying ample opportunity to support the future growth.
Continuing with the tradition to reward its shareholders, in addition to the interim dividend already paid of ₹ 4.50 per equity shares, the Board of Directors of the Company has declared third interim dividend of ₹ 6/- per equity share and 16th February 2022 has been fixed as record date.
