Sunday 21st April 2019

REC, Q3 Financial Results for Year 2019, shows jump in Profit After Tax of Rs 1,275 crores.

Feb 9th, 2019 3:47 pm | By | Category: LATEST NEWS

Rec Ramesh
(THE NEWSMAN OF INDIA)
Rural Electrification Corporation Limited, Navratna company under the administrative control of the Ministry of Power,
Ramesh V Penumaka is the Chairman and Managing Director of REC.

As per the reports REC on 8th February 2019 has declared it’s Q3 Financial Results for Year 2019, REC shown 16 per cent jump in standalone net profit at Rs 1,275 crore for December quarter 2018, REC’s net profit in the year-ago period stood at Rs 1,097 crore, as per a BSE filing.

Total revenue of the REC rose to Rs 7,257 crore in the latest quarter from Rs 5,637 crore in December quarter 2017.

The company has sanctioned loans worth Rs 28,587 crore in the quarter under review as compared to Rs 38,885 crore a year ago. Loan disbursed stood at Rs 19,727 crore as against Rs 12,892 crore in the year-ago period.

Net profit in April-December period rose 26 per cent to Rs 4,508 crore from Rs 3,580 crore in the same period last fiscal. Total income in the period was higher at Rs 19,131 crore from Rs 16,792 crore a year ago.

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