Millennium Post

REC electrifies its profit by 11%, income by 18%

Navratna public sector undertaking (PSU) Rural Electrification Corporation (REC) has achieved an 11 per cent rise in net profit to Rs 1,283 crore in the first quarter of the current fiscal (2014-15) from Rs 1,154 crore in the corresponding period of 2013-14. The company’s total income for the quarter has increased by 18 per cent to Rs 4,707 crore from Rs 4,001 crore in the first quarter of 2013-14.

According to the limited reviewed financial results the Rural Electrification Corporation Board of Directors, REC’s EPS for Q1 is Rs 12.99 per share while the net worth of the company has increased by 22 per cent from Rs. 18,076 crore to Rs 22,004 crore. The firm’s loan asset book as on 30 June, 2014, is Rs 1,55,234 crore and its outstanding borrowings are Rs 1,30,747 crore.
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