Q4FY23 results: REC Ltd's net profit increases by 10.04% to Rs 11,054.64 cr in FY23

New Delhi: State-owned REC Limited's net profit increased from Rs 10,045.92 crores in FY22 to Rs 11,054.64 crores in FY23, registering an increase of 10.04 percent on a y-o-y basis. On q-o-q basis, the company's net profit increased from Rs 2,287.88 crores in Q3FY23 to Rs 3,000.91 crores, registering an increase of 31.16 percent.

REC Limited's revenue from operations increased from Rs 39,132.49 crores in FY22 to Rs 39,208.06 crores, registering an increase of merely 0.19 percent. On q-o-q basis, the revenue from operations increased from Rs 9,580.10 crores in Q3FY23 to Rs 10,113.27 crores in Q4FY23.

On an annual basis, the company's expenses declined from Rs 26,805.55 crores in FY22 to Rs 25,513.96 crores in FY23. However, on q-o-q basis, the expenses decreased from Rs 6,768.45 crores in Q3FY23 to Rs 6,312.74 crores in Q4FY23. The company's operating profit for FY22 stood at Rs 16,390,33 crores. However, it decreased to Rs 14,931.76 crores in FY23.

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