https://indianmasterminds.com

ADVERTISEMENT
ADVERTISEMENT

REC Reports Highest Quarterly And Annual Profits Ever

On Wednesday, the REC Limited Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2023.
Indian Masterminds Stories

One of the top financiers of power projects in the country, REC Ltd, has reported its highest-ever quarterly profit of Rs 3,001 crore during January-March period of FY23 recording 31 percent year-on-year jump.

REC Limited’s Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2023, on Wednesday. Because of better asset quality and the resolution of stressed assets, REC has achieved its greatest quarterly and yearly profits of 3,001 crores and 11,055 crores, respectively.

As a result, earnings per share for the fiscal year ended March 31, 2023, are 41.86, up from 38.02 per share on March 31, 2022. Profit growth has contributed to a 13% increase in its net worth to 57,680 crores as of March 31, 2023.

The loan book has maintained its growth trajectory, increasing by 13% to 4.35 lakh crores from 3.85 lakh crores on March 31, 2022. As of March 31, 2023, the Net Credit-impaired assets had decreased to 1.01%, with a Provision Coverage Ratio of 70.64% on NPA assets.

The Company’s Capital Adequacy Ratio is a comfortable 25.78% as of March 31, 2023, signalling a considerable opportunity to sustain future expansion.

Operational and Financial Highlights –12M FY23 vs 12 FY22 (Standalone)

Disbursements: ₹ 96,846 crores vs. ₹ 64,150 crores

Interest Income on Loan Assets: ₹ 38,360 crores vs. ₹ 37,811 crores, up 1%

Net Profit: ₹ 11,055 crores vs. ₹ 10,046 crores, up 10%


Indian Masterminds Stories
ADVERTISEMENT
ADVERTISEMENT
Related Stories
ADVERTISEMENT
ADVERTISEMENT
NEWS
Ministry of Defence
Defence Ministry Awards ₹46.19 Crore Contract for Anti-Drone Systems, Delivery Expected by March 2026
air marshal AP Singh
India Destroys 10 Pak Fighter Jets, 2 Runways, Multiple Radars in Operation Sindoor; Precision Strikes Brought Pakistan to Its Knees, Says IAF Chief
MRPL_Mahatma_Award_
MRPL Honoured with Mahatma Award 2025 for HR Innovation and Social Responsibility
Modi Independent Day Speech
PM Modi to Launch Youth-Centric Skilling and Education Initiatives Worth ₹62,000 Crore on October 4
"My UPSC Interview: From Dream to Reality" Portal
What Is 'My UPSC Interview' Portal? All About UPSC’s Centenary Year Initiative to Share Real Officer Stories
Yogesh Gupta IPS
Who Is IPS Yogesh Gupta? The Officer Who Won Legal Battle as CAT Orders Kerala Govt to Forward Vigilance Report to Centre
UPSC New Logo
UPSC Enters 100th Year: New Logo Unveiled, 'My UPSC Interview' Initiative Launched
HUDCO New Logo
Turn Passion into Impact! HUDCO Opens Recruitment for 79 Vacancies Across Disciplines
ADVERTISEMENT
ADVERTISEMENT
Videos
Dr G K Goswami IPS
Everything you ever wanted to know about e-murder, e-dacoity and data safety
IFS Ravikant Meena UPSC IFS
Ravikant Meena on IFS Preparation, Optionals, and Life in Forest Service
Siddhartha Saxena UPSC CAPF
How Siddhartha Saxena Cracked UPSC CAPF AIR 326 Against All Odds
ADVERTISEMENT
UPSC Stories
UPSC Chairman Ajay Kumar Live Interaction
From Cut-off Dates to Coaching & Reforms: UPSC Chairman Ajay Kumar Assures Aspirants of Fairness, Transparency & a Future-Ready UPSC | UPSC@100
A Century of Service: The UPSC’s Landmark Year Begins. Chairman Ajay Kumar on UPSC’s Centennial: “Merit,...
Giriraj Parihar MPPSC 2024
From Constable to Deputy Collector: Giriraj Parihar’s 9-Year MPPSC Journey | Farmer’s Son, Brother to Five Sisters
From a jail guard to MPPSC 2024 Rank 8, Giriraj Parihar’s nine-year journey of self-study, hard work,...
Ankit MPPSC 2024 Rank 3
From Village Dreams to Deputy Collector’s Chair: Meet Ankit, MPPSC Rank 3 Hindi Medium Topper
Ankit, a Hindi-medium aspirant from Balaghat, secured Rank 3 in MPPSC 2024 and became Deputy Collector...
Social Media
World Rhino Day India
On World Rhino Day, IFS Officer Parveen Kaswan Shares Rare Insights - India Now Hosts 80% of the World’s One-Horned Rhinos
September 22 Marks Global Call for Rhino Conservation; India Holds 80% of World’s Greater One-Horned...
Parag Madhukar Dhakate
Relentless Rains Wreak Havoc in Dehradun: IFS officer PM Dhakate Warns Citizens Amid Flash Floods
Cloudbursts in Dehradun triggered flash floods. IFS officer Dr. PM Dhakate warned citizens to stay indoors...
Forest Guard Tiger Encounter
Tigers Clash in the Wild as Forest Guards Capture Rare Footage , Retired IFS Mohan Pargaien Posts Viral Video
Retired IFS officer Mohan Pargaien shares viral video of three tigers brawling in Ramnagar, as forest...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Latest
Ministry of Defence
Defence Ministry Awards ₹46.19 Crore Contract for Anti-Drone Systems, Delivery Expected by March 2026
air marshal AP Singh
India Destroys 10 Pak Fighter Jets, 2 Runways, Multiple Radars in Operation Sindoor; Precision Strikes Brought Pakistan to Its Knees, Says IAF Chief
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
Videos
Dr G K Goswami IPS
IFS Ravikant Meena UPSC IFS
Siddhartha Saxena UPSC CAPF
ADVERTISEMENT
ADVERTISEMENT