State-owned REC Limited reported a 23% increase in consolidated net profit, reaching ₹4,076.35 crore in the December 2024 quarter, compared to ₹3,308.42 crore in the same period last year. The rise was driven by higher income, which grew to ₹14,286.91 crore from ₹12,071.54 crore. Meanwhile, total expenses increased to ₹9,105.94 crore from ₹7,899.85 crore.
The company’s board approved a third interim dividend of ₹4.30 per share for the financial year 2024-25, with February 14 set as the record date for shareholder eligibility.
Additionally, REC’s subsidiary, REC Power Development and Consultancy Limited, received approval to form a 50:50 joint venture with Mahagenco Renewable Energy Limited for renewable energy and power projects. This proposal is subject to statutory and administrative approvals.
REC, operating under the Ministry of Power, is a non-banking finance company (NBFC), public financial institution (PFI), and infrastructure financing company (IFC). The company continues to play a key role in India’s power sector financing and development.
