- NEW DELHI — Government-owned Navratna company REC on
Thursday reported a 5.5 per cent year-on-year rise in consolidated net profit
at INR 4,236 crore for the January-March quarter in FY25, compared to INR 4,016
crore in the same period of the previous financial year.
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- The net interest income (NII), which shows the difference in
interest earned from loans and the interest paid to raise deposits, rose by
37.6 per cent to INR 5,877 crore during the fourth quarter from INR 4,272.5
crore in the same quarter last year.
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- The company’s board of board of directors have recommended a
final dividend of INR 2.60 per share (face value INR 10), in addition to the
INR 15.40 per share paid in four tranches during FY25. This takes the total
dividend for the financial year to INR 18 per share.
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- The REC board has also approved the formation of a 50:50
joint venture between its subsidiary REC Power Development and Consultancy Ltd
(RECPDCL) and Maharatna PSU Bharat Heavy Electricals Ltd (BHEL). The JV will
focus on renewable energy and other power and infrastructure projects, subject
to necessary statutory and administrative approvals.
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- REC (formerly Rural Electrification Corporation Limited) had
also reported a strong financial performance for the third quarter ended
December 2024, with its standalone net profit rising 23 per cent year-on-year.
The Navratna PSU posted a net profit of INR 4,029 crore for the quarter,
compared to INR 3,269 crore in the same period of the preceding financial year.
Net interest income advanced 20 per cent year-on-year to INR 5,133.1 crore from
INR 4,290.7 crore a year ago.
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- REC shares ended at INR 389.90 on BSE on Thursday.
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- REC had announced a 23 per cent jump in net profit to INR
4,029 crore for the October-December quarter of the current financial year,
compared to the corresponding figure of INR 3,269 crore in the same quarter of
2023-24.
