REC net profit rises 50 pc to Rs 1,256 crore in March quarter

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New Delhi | Published: May 24, 2019 10:43:22 PM

State-owned REC Ltd posted around 50 per cent jump in standalone net profit to Rs 1,256.13 crore in the March 2019 quarter, mainly on the back of higher income.

The company’s main business is to finance power sector.

State-owned REC Ltd posted around 50 per cent jump in standalone net profit to Rs 1,256.13 crore in the March 2019 quarter, mainly on the back of higher income.

The company’s standalone net profit for the quarter ended March 31, 2018, was Rs 839.40 crore, a BSE filing said.

Its total income increased to Rs 6,685.90 crore in the March quarter, compared with Rs 5,948.09 crore a year ago.

In the full fiscal 2018-19, the firm’s standalone net profit stood at Rs 5,763.72 crore as against Rs 4,419.89 crore in the year-ago period. Total income was Rs 25,341.16 crore, against Rs 22,467.35 crore in the previous year.

REC Ltd’s consolidated net profit for 2018-19 was Rs 5,741.38 crore, up from Rs 4,450.52 crore a year ago.

The company’s main business is to finance power sector.

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