REC net profit up 14% to Rs 2,301 cr in March quarter on higher revenues

REC net profit up 14% to Rs 2,301 cr in March quarter on higher revenues

In 2021-22, the consolidated net profit also climbed to Rs 10,035.70 crore.

State-owned REC Ltd posted a 14 percent ascend in its consolidated net profit to Rs 2,301.33 crore in the March quarter, predominantly on the back of higher incomes. The consolidated net profit of the organization was Rs 2,017.84 crore in the quarter ended March 2021, a BSE documenting said. Total income in the quarter rose to Rs 9,653.27 crore from Rs 9,215.92 crore in a similar period a year prior. It remained at Rs 8,378.14 crore in the year-prior period.

Total income in the fiscal increased to Rs 39,339.10 crore, as against Rs 35,575.56 crore in 2020-21.

The company’s board has recommended the payment of final dividend of Rs 4.80 per share on the face value of Rs 10 each for the financial year 2021-22, subject to the approval of the shareholders in the ensuing Annual General Meeting (AGM).

If approved, it will be paid to the shareholders within 30 days from the date of the AGM.

The final dividend is in addition to the interim dividends of Rs 10.50 per equity share already declared and paid during the year in three tranches, thereby, making total dividend for FY 2021-22 to Rs 15.30 per share, on the face value of Rs 10 each.

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