REC Ltd Q1 FY25, net profit up by 16.57% to Rs 3460.19 cr
Net Interest Income is Rs 4,713 crore vs Rs 3,612 crore up 30 percent.
REC Limited has announced the standalone and consolidated financial results for the June 30, 2024 quarter, ensuring growth and resetting interest rates on loan assets and effective management of Finance Cost with robust quarterly profit after tax of Rs 3,442 crore.
REC posted a 16.57 percent rise in consolidated net profit to Rs 3,460.19 crore for the June quarter, mainly regarding higher revenues. In the previous year, its net profit stood at Rs 2,968.05 crore. Total income rose to Rs 13,092.44 crore from Rs 11,108.16 crore in the same period a year ago. Expenses stood at Rs 8,743.22 crore against Rs 7,386.99 crore a year ago.
Read Also : RPF apprehends 586 bangladeshi and 318 rohingya to prevent illegal migration, since 2021The company’s Net Profit stood at Rs 3,442 crore vs Rs 2,961 crore up by 16 percent. Revenue from Operations is at Rs 13,023 crore vs Rs 10,976 crore, up by 19 percent.
Net Interest Income is Rs 4,713 crore vs Rs 3,612 crore up 30 percent.
Read Also : EPFO simplified process for transfer of PF account on change of jobsNews Must Read
- EPFO simplified process for transfer of PF account on change of jobs
- Powergrid Director (Operations) Discusses cooperation with UAE GCC Authority
- Railways Minister Ashwini Vaishnaw Inspects Mumbai Bullet Train Tunnel Construction
- Coal India Ltd aims for 4-5% production growth in FY25
- SAIL supplied entire 4,000 tonnes of special steel for INS Nilgiri
- Indian Bank Welcomes New Managing Director & CEO
- PFC signs Rs. 6,500 Crore loan agreement
- Indian Railway Finance signs lease agreement with NTPC Ltd for up to Rs 700 crores
- Punjab & Sind Bank Q3FY25 results: Net profit stood at Rs 282 crore, Gross NPAs declines 3.8%
- HUDCO schedules Board meet to approve interim dividend, record date and borrowing plan for FY25