REC is a leading Infrastructure Finance Company in India and the principal products of REC are interest-bearing loans to State Electricity Boards, State Power utilities/State Power Departments and Private sector for all segments of Power infrastructure.
It had also declared an interim dividend of Rs 11 per share during the financial year 2023-24.
The total dividend for FY 23-24 stands at Rs 16.The net interest income (NII) came in at Rs 4,272 crore, up 25.4% YoY from Rs 3,406 crore.REC’s net NPA stood at 0.86%, a growth of 4 bps QoQ, from 0.82%, while the GNPA was down to 2.71% against 2.78% QoQ.The Nifty Energy index was up 1% today wherein PowerGrid and BPCL were in strong momentum with 4% and 3% gains, respectively.
Outside of the energy index, PFC, the holding company of REC, was also up by 8% at the day’s high of Rs 476.90.Also read: ETMarkets Smart Talk: Metal, media and FMCG could turn out to be Dark Horse in FY25: Vipul Bhowar (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own.
These do not represent the views of Economic Times)
REC is a leading Infrastructure Finance Company in India and the principal products of REC are interest-bearing loans to State Electricity Boards, State Power utilities/State Power Departments and Private sector for all segments of Power infrastructure.
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Shares of REC Ltd rallied 8.5% to its 52-week high of Rs 550.50 today after the company posted a 33% year-on-year (YoY) growth in its net profit to Rs 4,079 crore for the quarter ended March.The total income for the fourth quarter came at Rs 12,706.66 crore as against Rs 10,254.63 crore in the year-ago period, while the revenue from operations grew nearly 24% YoY to Rs 12,677.18 crore.REC also announced a dividend of Rs 5 per equity share with its quarterly earnings. It had also declared an interim dividend of Rs 11 per share during the financial year 2023-24. The total dividend for FY 23-24 stands at Rs 16.The net interest income (NII) came in at Rs 4,272 crore, up 25.4% YoY from Rs 3,406 crore.REC’s net NPA stood at 0.86%, a growth of 4 bps QoQ, from 0.82%, while the GNPA was down to 2.71% against 2.78% QoQ.The Nifty Energy index was up 1% today wherein PowerGrid and BPCL were in strong momentum with 4% and 3% gains, respectively. Outside of the energy index, PFC, the holding company of REC, was also up by 8% at the day’s high of Rs 476.90.Also read: ETMarkets Smart Talk: Metal, media and FMCG could turn out to be Dark Horse in FY25: Vipul Bhowar (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
