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REC declares 3rd interim dividend; net profit jumps 23% to ₹4,029 crore

Nivedita by Nivedita
February 7, 2025
in Economy, News, PSE
REC declares 3rd interim dividend; net profit jumps 23% to ₹4,029 crore
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Delhi: REC Limited today announced a 23% rise in net profit, reaching ₹4,029 crore for the quarter ended December 31, 2024, driven by growth across key business segments. The company’s revenue from operations increased by 18%, reaching ₹14,157 crore, while net interest income rose by 19% to ₹4,930 crore.

The board also declared a 3rd interim dividend of ₹4.30 per share, continuing its commitment to rewarding shareholders.

For the first nine months of FY25, REC reported a 15% rise in net profit to ₹11,477 crore. The company’s total income surged 18% to ₹40,805 crore, while disbursements grew by 19%, reaching ₹1,45,647 crore, with a significant 79% YoY increase in renewable energy financing.

The company’s strong financial performance was further reflected in an increase in net worth to ₹76,502 crore, an 18% rise from the previous year. The Capital Adequacy Ratio stood at a robust 25.33%, supporting REC’s ability to sustain future growth.

REC’s Assets Under Management (AUM) grew to ₹5.65 lakh crore, reinforcing its steady expansion.

Operational and Financial Highlights: Q3 FY25 vs Q3 FY24 (Standalone)

  • Net Profit: ₹4,029 crore vs ₹3,269 crore, up 23%
  • Net Interest Income: ₹4,930 crore vs ₹4,153 crore, up 19%
  • Net Credit-Impaired Assets: Reduced to 0.74% from 0.82%
  • Revenue from Operations: ₹14,157 crore vs ₹11,982 crore, up 18%
  • Disbursements: ₹54,692 crore vs ₹46,358 crore, up 18%
  • Total Income: ₹14,173 crore vs ₹12,000 crore, up 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 15%
  • Net Interest Income: ₹14,191 crore vs ₹11,422 crore, up 24%
  • Revenue from Operations: ₹40,752 crore vs ₹34,533 crore, up 18%
  • Disbursements: ₹1,45,647 crore vs ₹1,22,089 crore, up 19%
    • Disbursements to renewables: ₹17,612 crore vs ₹9,858 crore, a 79% YoY increase
  • Total Income: ₹40,805 crore vs ₹34,571 crore, up 18%
  • 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%
  • Market Capitalization: ₹1,31,844 crore vs ₹1,08,712 crore, up 21%

As a ‘Maharatna’ company under the Ministry of Power, REC continues to play a pivotal role in financing India’s power and infrastructure sectors, including renewable energy, electric vehicles, and key government initiatives such as village electrification and distribution sector reforms.

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