REC net profit rises 14% to Rs 2,301 cr in March quarter on higher revenues
State-owned REC Ltd posted a 14 per cent rise in its consolidated net profit to Rs 2,301.33 crore in the March quarter, mainly on the back of higher revenues.
The consolidated net profit of the company was Rs 2,017.84 crore in the quarter ended March 2021, a BSE filing said.
Total income in the quarter rose to Rs 9,653.27 crore from Rs 9,215.92 crore in the same period a year ago.
In 2021-22, the consolidated net profit also climbed to Rs 10,035.70 crore. It stood at Rs 8,378.14 crore in the year-ago period.
Total income in the fiscal increased to Rs 39,339.10 crore, as against Rs 35,575.56 crore in 2020-21.
The company’s board has recommended the payment of final dividend of Rs 4.80 per share on the face value of Rs 10 each for the financial year 2021-22, subject to the approval of the shareholders in the ensuing Annual General Meeting (AGM).
If approved, it will be paid to the shareholders within 30 days from the date of the AGM.
The final dividend is in addition to the interim dividends of Rs 10.50 per equity share already declared and paid during the year in three tranches, thereby, making total dividend for FY 2021-22 to Rs 15.30 per share, on the face value of Rs 10 each.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
