REC Limited announced a net profit of ₹4,029 crore for Q3 FY25, marking a 23% increase from ₹3,269 crore reported in the corresponding quarter of the previous year. The company attributed the growth to robust interest income and efficient cost management.
Key financial highlights for Q3 FY25:
- Net profit: ₹4,029 crore, up 23.2% YoY from ₹3,269 crore.
- Total income: ₹14,172 crore, compared to ₹12,000 crore in Q3 FY24.
- Interest income: ₹13,970 crore, reflecting steady growth in the core business.
- Net interest income (NII): ₹4,855 crore, up 17% YoY from ₹4,159 crore, but below estimates of ₹5,070 crore.
- Loan growth: 13.5% YoY, compared to the company’s FY25 guidance of 15-17%.
Interim dividend announcement:
REC Limited declared a third interim dividend of ₹4.30 per share for FY25. The record date is February 14, 2025, and the payment is scheduled on or before March 6, 2025.
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