Government-owned REC reported a 16.3% increase in standalone net profit for the first quarter of fiscal 2025, meeting analysts’ estimates. The company’s net profit rose to Rs 3,442 crore in the April-June quarter, up from Rs 2,961 crore in the same period last year.
The profit growth was driven by higher interest earned from loan assets, with a 19% year-on-year increase in interest income to Rs 12,500 crore. Total income grew 18.7% to Rs 13,037 crore, compared to Rs 10,980 crore last year.
REC’s total loan book stood at Rs 5.3 lakh crore as of June, with an operating margin of 33.77%. The company declared an interim dividend of Rs 3.5 per share for the financial year 2024-25, with a record date of August 9 and payment scheduled for August 23.
