REC’s board had announced an interim dividend at Rs 11 per equity share, representing 110 percent of total paid up share capital of the company for the financial year, the statement said.
REC sanctioned new projects of 96,357 crore
REC authorised new projects of Rs 96,357 crore and disbursed Rs 52,269 crore to several power sector borrowers during the nine months ending December 31, the company added. The company posted a PBT (profit before tax) of Rs 6,466.20 crore and PAT (net profit) of Rs 4,507.59 crore during the nine months period. This helped register a year on year (y-o-y) growth of 31.93 percent for PBT and 25.89 percent for PAT.
“REC posted a PBT (profit before tax) of Rs 6,466.20 crore and PAT (net profit) of Rs 4,507.59 crore during the nine months period”
REC Limited is a non-banking finance firm and Infrastructure Finance Company (IFC) focusing on the power sector. The company offers financial assistance to state independent power producers, governments, electricity boards, rural electric cooperatives central/state power utilities, and private sector utilities.
The company’s business activities comprise financing projects in the power sector value chain. The different kinds of projects include distribution projects, renewable energy projects, generation, and transmission.