REC Q2 Results: Net profit grows 7% to Rs 4,037 crore dividend date nse bse

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State-owned REC Ltd connected Saturday posted astir 7 per cent emergence successful its consolidated nett net to Rs 4,037.72 crore for the September 2024 quarter, chiefly connected the backmost of higher income.

Its consolidated nett net stood astatine Rs 3,789.90 crore successful the 4th ended September 2023, a BSE filing showed.

The full income roseate to Rs 13,706.31 crore successful the 4th nether reappraisal from Rs 11,684.89 crore a twelvemonth ago.

The committee besides approved the 2nd interim dividend of Rs 4 per equity stock of Rs 10 each for 2024-25. The grounds day for the interim dividend is November 18.

The interim dividend volition beryllium paid connected oregon earlier November 22, 2024.

In a abstracted statement, the institution said, "Owing to maturation successful each the verticals, resetting of involvement rates connected indebtedness assets and effectual absorption of concern cost, REC is capable to support its spreads and NIMs (Net Interest Margin) resulting successful H1 PAT of Rs 7,448 crore".

The net per stock (EPS) for the play ended September 30, 2024, accelerated to Rs 28.28 per stock (annualised Rs 56.56) per stock against Rs 25.57 per stock (annualised Rs 51.14) arsenic of September 2023.

Its nett worthy has grown to Rs 72,893 crore arsenic of September 30, 2024, compared to Rs 63,117 crore arsenic of September 30, 2023, registering an summation of 15 per cent year-on-year.

The indebtedness publication has maintained its maturation trajectory and accrued by 15.2 per cent to Rs 5.46 lakh crore from Rs 4.74 lakh crore arsenic of September 30, 2023.

The nett credit-impaired assets reduced to 0.88 per cent from 0.96 per cent a twelvemonth ago, with a proviso sum ratio of 65.12 per cent connected NPA assets arsenic of September 30, 2024.

Indicating ample accidental to enactment aboriginal growth, its superior adequacy ratio (CRAR) stands astatine 25.31 per cent.

During the quarter, indebtedness disbursement stood astatine Rs 47,303 crore, of which Rs 5,946 crore was towards the renewable vigor sector.

The wide disbursement was 14 per cent higher than Rs 41,598 crore successful the September 4th of FY24.

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