REC profit jumps to Rs 7,448 cr

Hyderabad: Owing to growth in all the verticals, resetting of interest rates on loan assets and effective management of finance cost, the REC is able to maintain its spreads and NIMs resulting in robust half yearly profit after tax of Rs 7,448 crore. The board of directors of REC Limited, has approved the limited reviewed standalone and consolidated financial results for the half year ended September 30.

As a result, the earnings per share (EPS) for the period ended September 30 accelerated to Rs 28.28 (annualized Rs 56.56) per share as against Rs 25.57 (annualized Rs 51.14) per share.

Continuing with the tradition to reward its shareholders, the board of directors of the company has declared the 2nd interim dividend of Rs 4 per equity share (on face value of Rs 10 each).