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.
 

Comments

 

Other News

Modi’s forward-looking I-Day speech lays down 5-year agenda

Contrast prime minister Narendra Modi’s first Independence Day speech in 2014 with his latest, the first in the second term, and you know the difference. His first speech was less about future and much about the basic needs like Swachch Bharat (clean India). His speech on Thursday, on the other hand,

Better cities require active citizen engagement

With Mumbai city battling myriad civic issues and annual flooding year after year, stakeholders and experts came together to discuss ways of dealing with these issues as community work. The discussion was held at the TEDxVersova Salon- Vibrant Civic Participation, an independent TED event organized by the

Independence Day: PM underlines new beginnings

Addressing the nation from the ramparts of the Red Fort for the first in his second term, prime minister Narendra Modi highlighted the new beginnings his government has made in recent days, and underlined the hopes of a new India in the making. “Things that could not happen in the past

Kashmir decision “sole prerogative of the country”

India has told China that the legislation changing the status of Jammu and Kashmir was “an internal matter. External affairs minister S Jaishankar, visiting China Monday, told foreign minister Wang Yi that the legislative measures were aimed at promoting better governance and socio-ec

To fight climate change, pay attention also to land

When considering climate change, one of the greatest threats before the humanity, discussions usually focus on air and water, but land too is affected by and in turn affects global warming as much as those two elements. A new report from the Intergovernmental Panel on Climate Change (IPCC), out early Augus

Mumbai witnesses jump in bus ridership after fare cut

To revive bus ridership, the BMC-run Brihanmumbai Electric Supply and Transport (BEST) reduced its bus fares in Mumbai to minimum Rs 5 for non-AC buses as against Rs 8 earlier for the first five kilometres and capped maximum fare at Rs 20. For its AC buses the minimum fare has been brought down from Rs 20



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter