REC limited has today reported its unaudited financial results (Standalone) for the 2nd Quarter and Half Year ended 30th September 2023.
The Key highlights were briefed by CMD, REC Ltd. Vivek Kumar Dewangan in a press conference in Mumbai today. The Director (Projects) Vijay Kumar Singh, Director (Finance) Ajoy Choudhary, Executive Director (Finance) Sanjay Kumar, Executive Director and Company Secretary JS Amitabh and Executive Director TSC Bosh were also present on the occasion.
The key highlights are as under:
- REC is able to record its highest ever quarterly profit of Rs 3,773 crore.
- Sanctions: Rs 1,04,366 crore | up 23%, Renewable sector constitutes for 24%
- Disbursements: Rs 41,598 crore |up 133%
- Interest Income on Loan Assets: Rs 11,213 crore |up 18%
- Net Profit: Rs 3,773 crore vs.|up 38%
- Total Comprehensive Income: Rs 4,188 crore | up 119%
- The Net Worth has grown to Rs 63,117 crore as on 30th September 2023, an increase of 18% YoY.
- The loan book has maintained its growth trajectory and has increased by 20% to Rs 74 lakh crore
- The Capital Adequacy Ratio (CRAR) of the Company stands at a comfortable 28.53% as on 30th September 2023.
- REC has signed MOU with Punjab National Bank forRs 55,000 crore, signed MOU with Bank of India for Rs 30,000 crore.
- REC also signed MOU with SJVN for ?50,000 Crore for setting up power generation projects.
