{"id":192186,"date":"2024-01-23T11:41:03","date_gmt":"2024-01-23T06:11:03","guid":{"rendered":"https:\/\/newsmakhani.com\/?p=192186"},"modified":"2024-01-24T11:45:10","modified_gmt":"2024-01-24T06:15:10","slug":"rec-records-its-highest-ever-9-month-profit-at-%e2%82%b9-10003-crores","status":"publish","type":"post","link":"https:\/\/newsnarad.com\/pa\/rec-records-its-highest-ever-9-month-profit-at-%e2%82%b9-10003-crores\/","title":{"rendered":"REC records its highest ever 9-month profit at \u20b9 10,003 crores"},"content":{"rendered":"

\u0a2e\u0a3e\u0a2b\u0a3c \u0a15\u0a30\u0a28\u0a3e, \u0a07\u0a39 \u0a16\u0a2c\u0a30 \u0a24\u0a41\u0a39\u0a3e\u0a21\u0a40 \u0a2c\u0a47\u0a28\u0a24\u0a40 \u0a2d\u0a3e\u0a38\u0a3c\u0a3e \u0a35\u0a3f\u0a71\u0a1a \u0a09\u0a2a\u0a32\u0a2c\u0a27 \u0a28\u0a39\u0a40\u0a02 \u0a39\u0a48\u0964 \u0a15\u0a3f\u0a30\u0a2a\u0a3e \u0a15\u0a30\u0a15\u0a47 \u0a07\u0a71\u0a25\u0a47 \u0a26\u0a47\u0a16\u0a4b\u0964<\/a><\/p>

<\/p>\n

\n

Delhi, 23 JAN 2024<\/span><\/strong><\/h3>\n<\/div>\n

The Board of Directors of REC Limited today approved the unaudited standalone and consolidated financial results for the quarter & period ended 31st<\/sup>\u00a0December 2023.<\/p>\n

Operational and Financial Highlights: Q3 FY24 vs Q3 FY23 (Standalone<\/u><\/strong>)<\/strong><\/p>\n

    \n
  • Loan Sanctions: \u20b9 1,32,049 crores vs. \u20b9 47,712 crores, up 177%, Renewable sector constitutes 57%<\/li>\n
  • Disbursements: \u20b9 46,358 crores vs. \u20b9 29,639 crores, up 56%<\/li>\n
  • Interest Income on Loan Assets: \u20b9 11,812 crores vs. \u20b9 9,660 crores, up 22%<\/li>\n
  • Net Profit: \u20b9 3,269 crores vs. \u20b9 2,878 crores, up 14%<\/li>\n<\/ul>\n

    Operational and Financial Highlights: 9M FY24 vs 9M FY23 (Standalone<\/u><\/strong>)<\/strong><\/p>\n

      \n
    • Loan Sanctions: \u20b9 3,25,941 crores vs. \u20b9 1,92,496 crores, up 69%, Renewable sector constitutes 39%<\/li>\n
    • Disbursements: \u20b9 1,22,089 crores vs. \u20b9 59,907 crores, up 104%<\/li>\n
    • Interest Income on Loan Assets: \u20b9 33,490 crores vs. \u20b9 28,456 crores, up 18%<\/li>\n
    • Net Profit: \u20b9 10,003 crores vs. \u20b9 8,054 crores, up 24%<\/li>\n<\/ul>\n

      Owing to the improving asset quality, increase in lending rates and effective management of Financing Cost, REC is able to record its highest ever 9M profit of \u20b9 10,003 crores. As a result, the annualised Earnings Per Share (EPS) for the period ended 31st<\/sup>\u00a0December 2023 accelerated to \u20b9 50.65 per share as against \u20b9 40.79 per share as at 31st<\/sup>\u00a0December 2022.<\/p>\n

      Aided by growth in profits, the Net Worth has grown to \u20b9 64,787 crores as on 31st<\/sup>\u00a0December 2023, an increase of 18% YoY.<\/p>\n

      The loan book has maintained its growth trajectory and has increased by 21% to \u20b9 4.97 lakh crore as against \u20b9 4.11 lakh crores as at 31st<\/sup>\u00a0December 2022. Signifying improving asset quality, the Net Credit-impaired assets have reduced to 0.82% from 1.12% as at 31st<\/sup>\u00a0December 2022 with Provision Coverage Ratio of 70.41% on NPA assets, as at 31st<\/sup>\u00a0December 2023.<\/p>\n

      Indicating the ample opportunity to support the future growth, the Capital Adequacy Ratio (CRAR) of the Company stands at a comfortable 28.21% as on 31st<\/sup>\u00a0December 2023.<\/p>\n

      About REC Limited:<\/strong><\/p>\n

      REC is a ‘Maharatna’ Central Public Sector Enterprise under the Ministry of Power, and is registered with RBI as Non-Banking Finance Company (NBFC), and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pumped Storage projects, Green Hydrogen and Green Ammonia projects. More recently, REC has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel and Refinery. REC Ltd. provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Ltd. continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of Pradhan Mantri Suryodaya Yojana from Central Government. The loan book of REC stands at Rs 4.74 Lakh Crore and Net Worth at Rs. 63,117 crores on 30 September, 2023.<\/p>","protected":false},"excerpt":{"rendered":"

      \u0a2e\u0a3e\u0a2b\u0a3c \u0a15\u0a30\u0a28\u0a3e, \u0a07\u0a39 \u0a16\u0a2c\u0a30 \u0a24\u0a41\u0a39\u0a3e\u0a21\u0a40 \u0a2c\u0a47\u0a28\u0a24\u0a40 \u0a2d\u0a3e\u0a38\u0a3c\u0a3e \u0a35\u0a3f\u0a71\u0a1a \u0a09\u0a2a\u0a32\u0a2c\u0a27 \u0a28\u0a39\u0a40\u0a02 \u0a39\u0a48\u0964 \u0a15\u0a3f\u0a30\u0a2a\u0a3e \u0a15\u0a30\u0a15\u0a47 \u0a07\u0a71\u0a25\u0a47 \u0a26\u0a47\u0a16\u0a4b\u0964 Delhi, 23 JAN 2024 The Board of Directors of REC Limited today approved the unaudited standalone and consolidated financial results for the quarter & period ended 31st\u00a0December 2023. Operational and Financial Highlights: Q3 FY24 vs Q3 FY23 (Standalone) Loan Sanctions: […]<\/p>\n","protected":false},"author":17,"featured_media":190527,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[109,122],"tags":[105447,56731,105448],"class_list":{"0":"post-192186","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-national","8":"category-news","9":"tag-board-of-directors-of-rec","10":"tag-news-makhani","11":"tag-rec-records-its-highest-ever-9-month-profit-at--10003-crores"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/posts\/192186","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/comments?post=192186"}],"version-history":[{"count":0,"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/posts\/192186\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/media\/190527"}],"wp:attachment":[{"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/media?parent=192186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/categories?post=192186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsnarad.com\/pa\/wp-json\/wp\/v2\/tags?post=192186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}