REC sets Rs 35,000 crore revenue target for 2020-21

New Delhi: State-owned REC Ltd on Thursday said it is eyeing a revenue target of Rs 35,000 crore for the current fiscal, 17.5 per cent higher than 2019-20.

"Department of Public Enterprises (DPE) has finalised ambitious targets for REC Ltd in the ongoing financial year. The revenue target for FY2021 has been set at Rs 35,000 crore, up by 17.5 per cent from the previous year achievement," a company statement said.

Operating profit margin target has been set at 28 per cent as against 23.23 per cent achieved in the previous year, and target for parameter 'PAT (profit after tax) as a percentage of average net worth' has been set at 17 per cent as against 14.05 per cent achieved last year, the statement added. The MoU was signed by CMD REC Sanjeev Kumar Gupta and PFC CMD Ravinder Singh Dhillon.