REC Ltd on Thursday posted a 23 per cent rise in consolidated net profit to Rs 4,076.35 crore in the December quarter, aided by higher income. It had posted a net profit of Rs 3,308.42 crore in the October-December period of 2023-24 financial year, the company said in an exchange filing.
The company’s total income rose to Rs 14,286.91 crore in the reporting quarter from Rs 12,071.54 crore in the year-ago period. Total expenses stood at Rs 9,105.94 crore in the latest December quarter as against Rs 7,899.85 crore a year earlier.
The board of the company also approved a third interim dividend of Rs 4.30 per share for the financial year 2024-25.The interim dividend shall be paid on or before March 6, 2025 to shareholders.
Operational and Financial Highlights: Q3 FY25 vs Q3 FY24 (Standalone)
- Q3 Net Profit grows ₹4,029 crore, up by 23%
- Market capitalization grows ₹1,31,844 crore, up by 21%
- Asset Under Management (AUM) grows to ₹65 lakh crore
- 3rd interim dividend of ₹30 per equity share (on face value of ₹10/- each)
- Net interest income: ₹4,930 crore Vs ₹4,153 crore, up by 19%
- Net credit-impaired assets reduced to 0.74% from 0.82%
- Revenue from operations: ₹14,157 crore Vs ₹11,982 crore, up by 18%
- Disbursements: ₹54,692 crore Vs ₹46,358 crore, up by 18%
- Total income: ₹14,173 crore Vs ₹12,000 crore, up by 18%
- Average cost of funds: 7.18% Vs 7.28%, reduction by 10 bps
- Spread: 2.95% Vs 2.85%, up by 10 bps
- Net interest margin: 3.66% Vs 3.61%, up by 5 bps
Operational and Financial Highlights: 9M FY25 vs 9M FY24 (Standalone)
- Net Profit: ₹11,477 crore Vs ₹10,003 crore, up by 15%
- Net interest income: ₹14,191 crore Vs ₹11,422 crore, up by 24%
- Revenue from operations: ₹40,752 crore Vs ₹34,533 crore, up by 18%
- Disbursements: ₹1,45,647 crore Vs ₹1,22,089 crore, up by 19%, of which disbursements to renewables constituted:
- ₹17,612 crore Vs ₹9,858 crore, i.e. with YoY increase of 79%
- Total income: ₹40,805 crore Vs ₹34,571 crore, up by18%
- Spread: 2.94% Vs 2.82%, up by 12 bps
- Net interest margin: 3.64% Vs 3.52%, up by 12 bps
- Return on net worth: 21.07%
