REC Clocks 16.3 Pc Jump In Q1 Net Profit, Declares Dividend Of Rs 3.50 Per Share

7/27/2024 7:15:15 AM

(MENAFN- IANS) New Delhi, July 27 (IANS) Maharatna public sector company REC Limited clocked a 16.3 per cent rise in standalone net profit to Rs 3,442 crore in the April-June quarter of the current financial year, compared to Rs 2,961 crore in the same period last year.

REC's Board of directors declared an interim dividend of Rs 3.50 per share for the financial year 2024-25.

The record date has been set at August 9 and the dividend will be paid to shareholders on or before August 23, the company said in an exchange filing.

The country's leading power project financier reported a 18.7 per cent jump in total income to Rs 13,037 crore during the first quarter from Rs 10,980 crore in the same period last year.

Income from interest earned on loan assets rose by 19 per cent year-on-year to Rs 12,500 crore.

REC's total loan book stands at Rs 5.3 lakh crore as of June. Its operating margin was 33.77 per cent.

REC is a leading infrastructure finance company and provides loans to State Electricity Boards, state power utilities, state power departments and private sector power majors.

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