Rec announces its financial results for the half year ended 30 september 2017
Rural Electrification Corporation (REC) Limited, a Navratna public sector company focussed on financing power projects announced its financial results for the half year ended 30 September 2017 in a meeting held on 6 November 2017.
The Total Income of the Company as on 30 September 2017 is Rs. 11,290 crore. The Profit before Tax (PBT) for half year ended 30 September 2017 is Rs. 3,712 crore and Profit after Tax (PAT) stands at Rs. 2,516 crore. The Net worth of the company has increased to Rs. 35,145 crore up 11% compared with Rs. 31,778 crore as on 30 September 2016. Loan Book of the company increased to Rs. 2,15,845 crore and the outstanding borrowing was Rs. 1,75,626 crore. As on 30 September 2017, the company’s Gross NPA stands at 2.54% and Interest Coverage Ratio stands at 1.55%.
Total Sanctions for half yearly ended 30th September 2017 is Rs. 56,168 crore, a 12% increase from the corresponding half year in 2016. Disbursements also grew by 2% to Rs. 26,535 crore against Rs. 25,908 crore as on 30 September 2016. Earnings per Share (EPS) for the quarter ended 30 September 2017 is Rs. 12.74 per share of Rs.10/- each.