REC Ltd has posted around 7 per cent rise in its consoli- dated net profit to Rs 4,037.72 crore for the September 2024 quarter, mainly on the back of higher income. Its con- solidated net profit stood at Rs 3,789.90 crore in the quarter ended September 2023, a BSE filing showed. The total income rose to Rs 13,706.31 crore in the quarter under review from Rs 11,684.89 crore a year ago. The board also approved the second interim dividend of Rs 4 per equity share of Rs 10 each for 2024-25. The record date for the interim dividend is November 18. The interim
dividend will be paid on or before November 22, 2024. In a separate state- ment, the company said, “Owing to growth in all the verticals, resetting of interest rates on loan assets and effective man- agement of finance cost, REC is able to maintain its spreads and NIMs result- ing in H1 PAT of Rs 7,448 crore”. The earnings per share (EPS) for the period ended September 30, 2024, accelerated to Rs 28.28 per share.
