REC total income rises by 18%

Mumbai :  Rural Electrification Corporation (REC), a Navratna Public Sector Company has declared its quarterly financial results for the period ended 30th June, 2014.

In a meeting held on 12th Aug., 2014, the Board of Directors of the company approved the limited reviewed financial results.

Total income for the quarter ended June increased to Rs. 4,707 crores as against the total income for the corresponding quarter ended on 30th June, 2013 of Rs. 4,001 crores thus registering an increase of 18% for the quarter.

Profit after tax (PAT) for the quarter ended June rose to Rs. 1,283 crores as against the PAT for the same quarter last fiscal of Rs. 1,154 crores,  thus registering an increase of 11%. EPS for the quarter ending 30th June, 2014 is Rs. 12.99 per share.

Net worth of the company has increased by 22% from Rs. 18,076 crores to Rs. 22,004 crores. The Loan Asset Book of the company as on 30th June, 2014 stood at Rs. 1,55,234 Cr. while outstanding borrowings stood at Rs. 1,30,747 Cr.

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