REC RECORDS ITS HIGHEST EVER QUARTERLY PROFIT AT ₹ 3,773 crore

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✒️mumbai(purogami news network)

MUMBAI(dt.2nov):-REC LIMITED HAS ANNOUNCED its unaudited financial RESULTS (STANDALONE) FOR THE SECOND QUARTER AND HALF YEAR period ended SEPTEMBER 30 , 2023 . REC LIMITED is a ‘ MAHARATNA ‘ COMPANY UNDER THE ADMINISTRATIVE CONTROL OF THE MINISTRY OF POWER, GOVERNMENT OF INDIA , AND registered WITH THE RBI AS A Non-Banking Finance Company (NBFC) , Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). IS. A Due TO IMPROVEMENT IN SET QUALITY , INCREASE IN LENDING RATES AND EFFECTIVE MANAGEMENT OF FINANCE COSTS , REC HAS REPORTED its HIGHEST EVER QUARTERLY PROFIT of ₹ 3,773 crore .

AS A RESULT , ANNUALIZED EARNINGS PER SHARE FOR THE QUARTER ENDED SEPTEMBER 30, 2023 increased to ₹ 51.14 PER SHARE , AS AGAINST ₹ 39.32 PER SHARE AS ON SEPTEMBER 30 , 2022 . MU DUE TO INCREASE IN PROFITS , THE NET WORTH HAS increased to ₹ 63,117 crore as of SEPTEMBER 30, 2023 , AN INCREASE OF 18% YEAR-ON-YEAR . CO.

The company ‘S LOAN BOOK HAS CONTINUED ITS GROWTH JOURNEY AND HAS GROWN BY 20% from ₹ 3.94 LAKH CRORE AS ON SEPTEMBER 30 , 2022 . Has REACHED ₹ 4.74 LAKH CRORE .