REC posts profit of Rs 1,890 crore

The net worth of REC rose to Rs 34,614 crore, registering a growth of 16% over the corresponding quarter

GN Bureau | August 16, 2017


#PSU   #REC   #profit   #NPA  

 Rural Electrification Corporation (REC) Limited’s, total income, as on June 30, has risen to Rs 34,614 crore as against Rs 29,952 crore in the previous corresponding quarter. The profit before tax (PBT) for the quarter is Rs 1,890 crore.

The enterprise is focused on financing power projects.
 
Profit after Tax (PAT) stands at Rs 1,301 crore. The net worth of the company has increased to Rs 34,614 crore registering a growth of 16 percent over the corresponding quarter. Loan Book of the company has increased to Rs 2,07,802 crore and the outstanding borrowings is at Rs 1,68,284 crore as on June 30.
 
Gross NPAs stand at 2.60 percent as on June 30, 2017 as against 2.55 percent as on June 30, 2016.  Interest Coverage Ratio stands at 1.57 percent as on 30 June 2017. The authorised capital of the company as on June 30, 2017 is Rs 5,000 crore.
 

Comments

 

Other News

‘Oral cancer deaths in India cause productivity loss of 0.18% GDP’

A first-of-its-kind study on the economic loss due to premature death from oral cancer in India by the Tata Memorial Centre has found that this form of cancer has a premature mortality rate of 75.6% (34 premature events / 45 total events) resulting in productivity loss of approximately $5.6 billion in 2022

Days of Reading: Upendra Baxi recalls works that shaped his youth

Of Law and Life Upendra Baxi in Conversation with Arvind Narrain, Lawrence Liang, Sitharamam Kakarala, and Sruti Chaganti Orient BlackSwan, Rs 2,310

Voting by tribal communities blossoms as ECI’s efforts bear fruit

The efforts made by the Election Commission of India (ECI), over last two years, for inclusion of Particularly Vulnerable Tribal Groups (PVTG) communities and other tribal groups in the electoral process have borne fruit with scenes of tribal groups in various states/UTs participating enthusiastically in t

GST revenue for April 2024 at a new high

The gross Goods and Services Tax (GST) collections hit a record high in April 2024 at ₹2.10 lakh crore. This represents a significant 12.4% year-on-year growth, driven by a strong increase in domestic transactions (up 13.4%) and imports (up 8.3%). After accounting for refunds, the net GST

First Magahi novel presents a glimpse of Bihar bureaucracy a century ago

Fool Bahadur By Jayanath Pati (Translated by Abhay K.) Penguin Modern Classics, 112 pages, Rs 250 “Bab

Are EVs empowering India`s Green Transition?

Against the backdrop of the $3.5 billion Production-Linked Incentive (PLI) scheme launched by the Government of India, sales of Electric Vehicles (EVs) are expected to grow at a CAGR of 35% by 2032. It is crucial to take into account the fact that 86% of EV sales in India were under the price bracket of $2

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter