REC Q2 Results: Net profit up 6.5% YoY at Rs 4,038 crore; Rs 4 per share dividend declared

State-run REC reported a 6.5% rise in its September quarter consolidated net profit at Rs 4,038 crore versus Rs 3,790 crore reported by it in the year ago period. The total interest income earned by the NBFC during the quarter stood at Rs 13,485 crore which was up 18% over Rs 11,399 crore reported in the corresponding quarter of the previous financial year.

REC announced an interim dividend of Rs 4 per equity share for the financial year 2024-25. It has set the record date on November 8, 2024.

The total revenue from operations in the reported quarter stood at Rs 13,682 crore versus 13,079 crore posted in Q1FY25 and Rs 11,672 crore in the year ago period.

The total expenses incurred by REC in the July-September quarter stood at Rs 8,609 crore down from Rs 8,743 crore in Q1FY25 and Rs 6,847 crore in Q2FY24.

The earnings were announced on Saturday and the stock had ended at Rs 513 on the NSE on Friday, down by Rs 8.30 or 1.6% over Thursday closing price.