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REC declares its Financial Results for Q2 FY22 And H1 FY22: Highest Ever Quarterly Profit at Rs. 2,739 Cr

Second Interim Dividend of Rs. 2.50 per share of Rs. 10 each for FY 2021-22

 New Delhi: The Board of Directors of REC Limited approved the unaudited standalone and consolidated financial results for Q2 FY22 today.

Financial Highlights – Q2 FY22 vs Q2 FY21 (Standalone)

  • Total Income – Rs.  10,079 crores vs. Rs. 8,791 crores, up 15%
  • Net Profit – Rs. 2,739 crores vs. Rs. 2,190 crores, up 25%
Midle of the post

Owing to the record income, effective cost management and resultant quarterly profit, the annualized Earnings Per Share for the quarter ended 30th September 2021 increased to Rs. 55.47 as against Rs. 44.36 per share during the same quarter last year. Aided by growth in profits, the Net Worth has grown to Rs. 47,767 crore as on 30th September 2021, an increase of 19% YoY.

The loan book has maintained its growth trajectory and has increased by 11% to Rs. 3.87 lakh crore as at 30th September 2021. The increase in Loan Book coupled with asset resolutions and improved provision coverage ratio has enabled in reducing the Net Credit-impaired assets to 1.52% as on 30th September 2021. The Provision Coverage Ratio against Credit impaired assets stands at 67.63% as on September 30, 2021.

The Capital Adequacy Ratio of the Company stands at a comfortable 21.15% as on 30th September 2021, implying ample opportunity to support the future growth.

Continuing with the tradition to reward its shareholders, in addition to the first interim dividend ₹2.00 per equity shares, the Board of Directors of the Company has declared second interim dividend of ₹2.50 per equity share and 12th November, 2021 has been fixed as Record Date for payment of Interim Dividend.

 

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