REC Q2 Results: Net profit up 6.5% YoY at Rs 4,038 crore; Dividend declared at Rs 4 per share

Victor Boolen

REC Q2 Results: Net profit up 6.5% YoY at Rs 4,038 crore; Dividend declared at Rs 4 per share
State REC reported a 6.5% rise in its consolidated net worth for the September quarter profit at Rs 4,038 crore against Rs 3,790 crore reported by it in the year-ago period. The total amount interest income earnings of NBFCs during the quarter stood at Rs 13,485 crore, up 18% from Rs 11,399 crore reported in the corresponding quarter of the previous financial year.

RIC announced an interim dividend of Rs 4 crore per equity share for the financial year 2024-25. It set a record date of November 8, 2024.

Total income from operations in the reported quarter stood at Rs 13,682 crore as against Rs 13,079 crore posted in Q1FY25 and Rs 11,672 crore in the year-ago period.

The total expenditure incurred by REC in the July-September quarter stood at Rs 8,609 crore, down from Rs 8,743 crore in Q1FY25 and Rs 6,847 crore in Q2FY24.

The earnings were announced on Saturday and the stock closed at Rs 513 on the NSE on Friday, down Rs 8.30 or 1.6% from Thursday’s closing price.

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