Millennium Post

REC annual net increases 35%

Navratna public sector undertaking (PSU) Rural Electrification Corporation’s (REC) total income for the fourth quarter (January-March 2013) of 2012-13 increased by 27 per cent to Rs 3,640 crore against Rs 2,867 crore in the corresponding quarter of the previous fiscal. For the financial year ended that on 31 March, 2013, the company’s total income increased by 29  per cent to Rs 13,599 crore against Rs 10,509 crore in the financial year ended on 31 March, 2012.

REC’s fourth quarter profit after tax for the quarter of 2012-13 increased by 26 per cent to Rs 960 crore from Rs 761 crore from the the corresponding quarter of 2011-12. For the full financial year 2012-13, the profit after tax increased by an astronomical 35 per cent to Rs 3,818 crore from Rs 2,817 crore for fiscal 2011-12.

The earning per share (EPS) for the year ending 31 March, 2013, is Rs 38.66 while the net worth of the company has increased by 20 per cent from Rs 14,563 crore to Rs 17,454 crore.

REC’s loan asset book  as on 31 March, 2013, increased to Rs 1,27,356 crore and outstanding borrowings stood at Rs 1,07,791 crore. The company paid an interim dividend of Rs 6.75 per equity share in the month of February, 2013. The Board of Directors has recommended a final dividend of Rs 1.50 per share for the year 2012-13 subject to shareholders’ approval at the ensuing annual general  meeting (AGM).  The total dividend (including interim dividend) for the financial year 2012-13 is Rs 8.25 per share.

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