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Rural Electrification Corp quarterly PAT rises 53%

Rural Electrification Corp quarterly PAT rises 53%
Rural Electrification Corporation (REC), a Navratna Public Sector Company has declared its quarterly and half yearly financial results for the period ended 30th September, 2012.

The total Income of the company for the quarter and half year ended on 30th September, 2012, has increased to Rs 3,314 crore and Rs 6,406 crore as against the corresponding quarter and half year ended on 30th September, 2011 of Rs 2,570 crore and Rs 4,943 crore respectively thus registering an increase of 29 per cent for the quarter and 30% for the half year.

Profit after tax (PAT) of the company for the quarter and half year ended on 30th September has increased to Rs 954 crore and Rs 1,831 crore against the corresponding quarter and half year ended on 30th September of Rs 624 crore and Rs 1,286 crore respectively, registering an increase of 53 per cent for the quarter and 42 per cent for the half year.

The EPS for the half year ending 30th September,2012 is Rs 18.54. while the net worth of the corporation has increased to Rs 16,576 crore.

The loan asset book of the corporation as on 30th September,2012, has increased to Rs 1,11,965 crore and the outstanding borrowings is Rs 95,092 crore.

Rural Electrification Corporation has received the honour of 'Excellent' rating from the Department of Public Enterprises (DoPE) for the 18th year in succession against the memorandum of understanding (MoU) signed with the Ministry of Power for 2010-11.

The corporation also received the coveted MOU Excellence Award for the year 2009-10 for the ‘Best Listed CPSE’ awarded by Department of Public Enterprises.

Rural Electrification Corporation participated in 'Best Companies to Work for' survey and has been rated in the Top 50 companies to work in the category of companies having less than 1,000 employees by Great Places to Work.

REC has been appreciated for providing best in class compensation, benefits and rewards to its employees.

The company’s Executive’s Orientation Programme has drawn special admiration as it involves participation of the top management, including the chairman and managing director ( CMD), to inculcate the company’s culture and values in new recruits.

REC sanctions loans to state electricity boards, power utilities, state governments, rural electric cooperatives, NGOs and private power developers through a network of 13 project offices and 5 zonal offices across India.
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