Rural Electrification Corp powers Q4 profit by 5.7% to Rs 1,160 crore

Rural Electrification Corporation (REC) on Friday reported a 5.7 per cent rise in standalone net profit at Rs 1,160.03 crore for the March quarter on higher income from operations.

The company had posted a net profit after taxes, minority interest and share of profit from associates of Rs 1,096.50 crore during the corresponding quarter a year-ago, Rural Electrification Corporation said in a BSE filing. 

The total income from operations of the company increased to Rs 6,064.14 crore over Rs 5,333.40 crore in the corresponding quarter of 2014-15. 

On the consolidated basis, the group posted a net profit after taxes, minority interest and share of profit of associates of Rs 5,691.42 crore for the year ended March 31, 2016 as compared to Rs 5344.42 crore for the year-ended March 31, 2015. 

The total income increased from Rs 20,549.89 crore for the year ended March 31, 2015 to Rs 24,129.93 crore for the year ended March 31, 2016. In a separate filing, the company said that its board has recommended the final dividend of Rs 5.10 per share (on the face value of Rs 10 each) for 2015-16, subject to approval of the shareholders in the ensuing Annual General Meeting. 

"This is in addition to the interim dividend of Rs 12 per share already declared and paid in the month of February, 2016 thereby making total dividend for the financial year 2015-16 to Rs 17.10 per share (on the face value of Rs 10 each)," it said.