New Delhi: The Board of Directors of REC Limited approved the unaudited standalone and consolidated financial results for Q1 FY22 on Friday.
During Q1 FY22, the company has registered a Net Profit of Rs 2,247 crores, as against Rs 1,839 crores during Q1 FY21, a growth of 22 per cent. Consequently, the annualized Earnings Per Share for the quarter ended 30th June 2021 increased to Rs 45.52 as against Rs 37.24 per share during the same quarter last year. With a Net Worth of Rs 45,690 crores as on 30th June 2021, the company's book value per share is Rs 231.
The loan book has grown by 15 per cent from Rs 3.31 lakh crore as on 30th June 2020 to Rs 3.79 lakh crore on 30th June 2021. Along with an increase in the loan book, the Company has been able to maintain the trend of asset resolutions.
The Net Credit-impaired assets have reduced to 1.61 per cent as on 30th June 2021, as against 2.88 per cent as on 30th June 2020. The Provision Coverage Ratio against Credit impaired assets has also improved from 52.89 per cent on 30th June 2020 to 66.48 per cent as on June 30, 2021. The Capital Adequacy Ratio of the Company stands at a comfortable 20.21 per cent as on 30th June 2021, implying ample opportunity to support future growth.
Continuing with the tradition to reward its shareholders, the Board of Directors of the Company has also declared final dividend of Rs 1.71 per share of Rs 10 each, in addition to Rs 11 per share already paid as interim dividend for the financial year 2020-21 and the record date for such final dividend has been fixed at 17th September 2021.
Additionally, the company has also declared an interim dividend of Rs 2 per share of Rs 10 each for the financial year 2021-22 and the record date for such interim dividend has been fixed at 17th August 2021.