- REC Ltd reported a 21% increase in consolidated net profit at Rs 2,968.05 crore for Q1 FY 2023-24.
- The company’s revenues rose to Rs 11,091.77 crore from Rs 9,506.06 crore in the same period last year.
- The board approved an interim dividend of Rs 3 per equity share for 2023-24, payable on or before August 24.
- REC is focusing on India’s energy transition and aims to have a 20% share in related projects, representing an investment of around Rs 15 lakh crore.
- They plan to increase their renewable energy portfolio to about Rs three lakh crore.
- REC has not added any new NPAs in the last six quarters and aims to become a net-zero NPA company in the next two years.
- The Net Credit-impaired assets have reduced to 0.97% with a Provision Coverage Ratio of 70.46% as of June 30, 2023.
- The net worth of the company has grown to Rs 60,886 crore as of June 30, 2023, a YoY increase of 16%.
- The loan book has increased by 17% to Rs 4.54 lakh crore compared to Rs 3.88 lakh crore as of June 30, 2022.
- The Capital Adequacy Ratio (CAR) of the company stands at a 27.60% as of June 30, 2023.
Subscribe To Our Free Newsletter |