REC, the state-run company, experienced a significant boost in its stock prices, surging by nearly 7 percent at mid-day on November 2. The surge followed the company’s stellar performance in the September quarter of the current financial year.
In a regulatory filing, REC, formerly known as Rural Electrification Corporation, announced a remarkable 30.72 percent year-on-year increase in profit, reaching Rs 3,789.90 crore.
The company also reported robust figures in other key financial metrics. Its earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at Rs 12,193.52 crore, marking an impressive 32.98 percent rise from the same period last year.
Furthermore, REC’s net sales reached Rs 11,688.24 crore, indicating a substantial 17.4 percent increase compared to the corresponding quarter of the previous fiscal year.
Investors responded positively to REC’s strong financial performance, reflecting confidence in the company’s strategic decisions and operational efficiency. The significant uptick in profit and revenue underscored REC’s resilience and stability in the ever-changing economic landscape, prompting a surge in its stock value.
