New Delhi: State-owned REC Ltd on Thursday reported a 5.66 per cent rise in net profit to Rs 4,309.98 crore for teh January-March quarter of FY25 driven by higher revenues.
The power sector financier had posted a net profit of Rs 4,079.09 crore in the January-March period of 2023-24.
Total income increased to Rs 15,348.37 crore in the fourth quarter of FY25 from Rs 12,706.66 crore in the same period a year ago, according to an exchange filing by the company.
For the entire FY25, net profit increased to Rs 15,884.23 crore from Rs 14,145.46 crore in FY24. Total income rose to Rs 56,434 crore in FY25 from Rs 47,571.23 crore in FY24.
The board of directors recommended a dividend of Rs 2.60 for 2024-25.
This is in addition to the interim dividend of Rs 15.40/- per equity share already declared during the FY25 in four tranches thereby making the total dividend for the fiscal to Rs 18 per share on face value of Rs 10 each.
The board also gave a go-ahead to formation of a Joint Venture between its wholly owned subsidiary REC Power Development and Consultancy Limited (RECPDCL) and BHEL in the shareholding ratio of 50:50 for joint development of renewable energy / other power and infrastructure projects.
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