New Delhi : Rural Electrification Corporation (REC) focused on financing power projects announced its financial results for the quarter and year ended March 31, 2017 in a meeting. The total income of the company for the year ended 31 March 2017 has risen to Rs 24,096 crore as against Rs 23,757 crore in the previous corresponding year. The Profit before Tax (PBT) for the year is Rs 8,861 crore, an increase of 10 per cent over the corresponding last year.
The company has registered an increase of 11 per cent in Profit after Tax (PAT) over the corresponding last year, which stands at Rs 6,246 crore. The net worth of the company has increased to Rs 33,326 crore registering a growth of 16 per cent over the corresponding last year. Loan book of the company has increased to Rs 2, 01,929 crore and the outstanding borrowings is Rs 1, 67,517 crore as on 31 March 2017. Gross NPAs stand at 2.41 per cent as at March 31, 2017 as against 2.11 per cent as at March 31, 2016.
Interest Coverage Ratio has improved to 1.64 per cent as at March 31, 2017 as against 1.56 per cent as at March 31, 2016.
During the year, the Company had allotted bonus shares to its shareholders in the proportion of one bonus share of Rs 10 each for every existing one fully paid-up share of Rs 10 each. Accordingly, the paid-up capital increased to Rs 1,974.92 crore from Rs 987.46 crore, post bonus shares.
