The Board of Directors of REC Limited, today approved the limited reviewed standalone and consolidated financial results for the period ended December 31, 2024.
Operational and Financial Highlights: Q3 FY25 vs Q3 FY24 (Standalone)
Net Profit: Rs4,029 crore Vs Rs 3,269 crore, up by 23%
Net interest income: Rs4,930 crore Vs Rs 4,153 crore, up by 19%
Net credit-impaired assets reduced to 0.74% from 0.82%
Revenue from operations: Rs14,157 crore Vs Rs 11,982 crore, up by 18%
Disbursements: Rs54,692 crore Vs Rs 46,358 crore, up by 18%
Total income: Rs14,173 crore Vs Rs 12,000 crore, up by 18%
Average cost of funds: 7.18% Vs 7.28%, reduction by 10 bps
Spread: 2.95% Vs 2.85%, up by 10 bps
Net interest margin: 3.66% Vs 3.61%, up by 5 bps
Operational and Financial Highlights: 9M FY25 vs 9M FY24 (Standalone)
Net Profit: Rs11,477 crore Vs Rs 10,003 crore, up by 15%
Net interest income: Rs14,191 crore Vs Rs 11,422 crore, up by 24%
Revenue from operations: Rs 40,752 crore Vs Rs 34,533 crore, up by 18%
Disbursements: Rs1,45,647 crore Vs Rs1,22,089 crore, up by 19%, of which disbursements to renewables constituted:
Rs17,612 crore Vs Rs 9,858 crore, i.e. with YoY increase of 79%
Total income: Rs 40,805 crore Vs Rs 34,571 crore, up by18%
Spread: 2.94% Vs 2.82%, up by 12 bps
Net interest margin: 3.64% Vs 3.52%, up by 12 bps
Return on net worth: 21.07%
Market capitalization: Rs1,31,844 crore Vs Rs1,08,712 crore, up by 21%
Owing to growth in all the verticals, resetting of interest rates on loan assets and effective management of Finance Cost, REC is able to maintain its spreads and NIMs resulting in robust profit after tax of Rs11,477 crore for the period ending December 31, 2024. As a result, the Earnings Per Share (EPS) for the period ended December 31, 2024 accelerated to Rs 58.11 (Annualized) per share as against Rs50.65 per share as at December 31, 2023.
The loan book i.e. Asset Under Management (AUM) has maintained its growth trajectory and has increased on sustained basis to Rs5.65 lakh crore as against Rs 4.97 lakh crore as at December 31, 2023.
Aided by growth in profits, the Net Worth has grown to Rs76,502 crore as on December 31, 2024, as compared to Rs 64,787 crore as on December 31, 2023 registering an increase of 18% YoY.
Indicating the ample opportunity to support the future growth, the Capital Adequacy Ratio (CRAR) of the Company stands at a comfortable 25.33% as at December 31, 2024.
Continuing with the tradition to reward its shareholders, the Board of Directors of the Company has declared the 3rd interim dividend of Rs4.30 per equity share (on face value of Rs10/- each).
About REC LIMITED
REC is a `Maharatna` company under the administrative control of the Ministry of Power, Government of India, and is registered with RBI as Non-Banking Finance Company (NBFC), Public Financial Institution (PFI) and Infrastructure Financing Company (IFC). REC is financing the entire Power-Infrastructure sector comprising Generation, Transmission, Distribution, Renewable Energy and new technologies like Electric Vehicles, Battery Storage, Pump Storage projects, Green Hydrogen, Green Ammonia projects etc. More recently REC Limited has also diversified into the Non-Power Infrastructure sector comprising Roads & Expressways, Metro Rail, Airports, IT Communication, Social and Commercial Infrastructure (Educational Institution, Hospitals), Ports and Electro-Mechanical (E&M) works in respect of various other sectors like Steel, Refinery, etc.
REC Limited provides loans of various maturities to State, Central and Private Companies for creation of infrastructure assets in the country. REC Limited continues to play a key strategic role in the flagship schemes of the Government for the power sector and has been nodal agency for Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), National Electricity Fund (NEF) Scheme which resulted in strengthening of last mile distribution system, 100% village electrification and household electrification in the country. REC has also been made the nodal agency for certain States and Union Territories for the Revamped Distribution Sector Scheme (RDSS). REC has also been given the responsibility of PM Surya Ghar Muft Bijli Yojna from Central Government.
