REC Q2 Results: Net profit up 6.5% YoY at Rs 4,038 crore, dividend of Rs 4 per share announced
The total expenses 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.
REC Q2 Results: Net profit up 6.5% YoY at Rs 4,038 crore, dividend of Rs 4 per share announced
State-owned REC reported a 6.5% rise in its September quarter consolidated net profit at Rs 4,038 crore as against Rs 3,790 crore reported by it in the year-ago period. The total interest income earned by the NBFC during the quarter stood at Rs 13,485 crore which was up 18% over Rs 11,399 crore reported in the corresponding quarter of the previous financial year.
REC Board has announced an interim dividend of Rs 4 per equity share for the financial year 2024-25. It has set the record date on November 8, 2024. The total revenue from operations in the reported quarter stood at Rs 13,682 crore versus 13,079 crore posted in Q1FY25 and Rs 11,672 crore in the year-ago period.
Read Also : NTPC Ltd inaugurates world’s first CO-to-Methanol PlantAdditionally, Declaration of 2nd interim dividend @ Rs 4 (Rupees Four ouly) per equity share of Rs 10/- each for the financial year 2024-25. Further, the record date for the said interim dividend is Friday, November 8, 2024, and the said interim dividend shall be paid/ dispatched on or before November 22, 2024.
The total expenses 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 shares of the company have been down by 1.6%. The dividend yield is at 3.22% with Market capitalization standing at Rs 1.34 lakh crore.
Read Also : Gujarat to be first state to implement a dedicated semiconductor policyNews Must Read
- HPCL shares decline, see performance and future plans
- BEL Director (R&D) Job Vacancy: Check Last Date to apply, Pay Scale
- Bharat Electronics Ltd shares may revive, secures order worth Rs 500 crore
- BSE Chairman Pramod Agrawal resigns
- PFC Registered highest ever quarterly Profit in Q2 FY25, declared dividend
- ONGC stepped up as Principal Partner for IEW 2025 at ADIPEC2024
- Cochin Shipyard Q2: Shares dropped 5% to hit the lower circuit
- Two Independent Directors Step Down from Balmer lawrie
- NHPC Q2 results, shares fell by 5%, reported 37% decline in consolidated net profit
- Oil India secures critical mineral block in Arunachal Pradesh