REC Q4 results: Net profit grows 33% to ₹4,079 crore in March quarter, shares up 10%
Upstox
1 min read • Updated: April 30, 2024, 3:10 PM
Summary
For the entire FY24, the company's net profit was ₹14,145.46 crore, up from ₹11,166.98 crore in FY23. The income also rose to ₹47,571.23 crore in FY24 compared to ₹39,520.16 crore a year earlier.
State-owned REC Ltd on Tuesday posted a 33% rise in its consolidated net profit to ₹4,079.09 crore during the March quarter on account of higher income.
The company had clocked a net profit of ₹3,065.37 crore during the January-March quarter preceding FY 2022-23, REC said in a regulatory filing.
The company's total income during the fourth quarter rose to ₹12,706.66 crore from ₹10,254.63 crore in the year-ago period.
Total expenses were ₹7,477.18 crore in the March quarter as against ₹6,353.40 crore.
For the entire FY24, the company's net profit was ₹14,145.46 crore, up from ₹11,166.98 crore in FY23.
The income also rose to ₹47,571.23 crore in FY24 compared to ₹39,520.16 crore a year earlier.
REC Ltd, under the Ministry of Power, is a non-banking finance company focusing on power sector financing and development across India.
This article has been sourced directly from PTI news feed. Except for the headline and summary, no other changes have been made.