Media Lounge

REC Announces Q3 Financial Results – Registers Highest Ever Quarterly Profit

Rural Electrification Corporation Limited (REC), a Navratna CPSE focused on financing power projects, announced its financial results for the quarter and nine months ended 31 December 2016 in the meeting held on 14 February 2017.

Total Income of the company for the nine months ended 31 December 2016 has increased to Rs 18,117 crore as against corresponding nine months ended 31 December 2015 of Rs 17,672 crore. Total Income for the quarter ended 31 December 2016 has decreased marginally to Rs 5,958 crore as against corresponding quarter ended 31 December 2015 of Rs 6,037 crore. Profit after Tax (PAT) for the nine months ended 31 December 2016 is Rs 4,927 crore as against Rs 4,468 crore for the nine months ended 31 December 2015, up by 10% over the corresponding nine months last year. Profit after Tax (PAT) for the quarter ended 31 December 2016 is Rs 1,754 crore as against Rs 1,370 crore for the quarter ended 31 December 2015, up by 28% over the corresponding quarter last year.

Net worth as at 31 December 2016 has increased to Rs 33,553 crore as against Rs 28,014 crore over the corresponding period last year, registering a growth of 20%. Loan Book of the company has increased to Rs 2,01,937 crore and the outstanding borrowings is Rs 1,67,612 crore as on 31 December 2016. Loan quality has also improved sequentially with Gross NPAs at 2.32% as at 31 December 2016 as against 2.45% as at 30 September 2016. The Authorised Capital of the Company as at 31 December 2016 is Rs 5,000 crore.

During the last quarter, the Company had allotted bonus shares to its shareholdeRs in the proportion of one bonus share of Rs 10/- each for every existing one fully paid-up share of Rs 10/- each. Accordingly, the paid-up capital rose to Rs 1,974.92 crore from Rs 987.46 crore. The book value per share of Rs 10/- each (calculated as Net worth/ No. of Shares) stands at Rs 169.90 as at 31 December 2016. Earnings per Share (EPS) (calculated as Profit after Tax/ No. of Shares) for the nine months ended 31 December 2016 has been Rs 24.95 per share of Rs 10/- each, post bonus issue. EPS for the quarter ended 31 December 2016 has been Rs 8.88 per share of Rs 10/- each, post bonus issue. The Company has declared an interim dividend for the FY 2016-17 of Rs 7/- per equity share of Rs 10/- each.

Website last updated at: 13/10/2018 - 12:10 PM
  • Number of Visitors :