REC net down 26% in Oct-Dec quarter

PTI Updated on February 06, 2018

New Delhi, Feb 6

State-run Rural Electrification Corporation (REC) standalone net profit dipped 26 per cent to Rs 1,296.40 crore in the quarter ended December 2017 against a net profit of ₹ 1,754.40 crore in the corresponding quarter of the previous fiscal.

Total revenue of the company also declined to ₹ 5,602.74 crore in the third quarter from ₹ 5,957.75 crore a year ago.

The net profit of the company during April-December period this fiscal too fell to ₹3,812.21 crore from ₹ 4,926.53 crore in the same period a year ago.

The company’s net profit in the last fiscal stood at ₹ 6,245.76 crore.

The financial results for the third quarter were approved by its board and an interim dividend of ₹ 7.40 per equity share of Rs 10 each for 2017-18 was also declared, it said.

REC is mainly engaged in financing power sector projects.

Published on February 06, 2018
TOPICS
quarterly or semiannual financial statement
Rural Electrification Corporation Ltd

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