REC posts profit of Rs 1,890 crore

The net worth of REC rose to Rs 34,614 crore, registering a growth of 16% over the corresponding quarter

GN Bureau | August 16, 2017


#PSU   #REC   #profit   #NPA  

 Rural Electrification Corporation (REC) Limited’s, total income, as on June 30, has risen to Rs 34,614 crore as against Rs 29,952 crore in the previous corresponding quarter. The profit before tax (PBT) for the quarter is Rs 1,890 crore.

The enterprise is focused on financing power projects.
 
Profit after Tax (PAT) stands at Rs 1,301 crore. The net worth of the company has increased to Rs 34,614 crore registering a growth of 16 percent over the corresponding quarter. Loan Book of the company has increased to Rs 2,07,802 crore and the outstanding borrowings is at Rs 1,68,284 crore as on June 30.
 
Gross NPAs stand at 2.60 percent as on June 30, 2017 as against 2.55 percent as on June 30, 2016.  Interest Coverage Ratio stands at 1.57 percent as on 30 June 2017. The authorised capital of the company as on June 30, 2017 is Rs 5,000 crore.
 

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