REC Q4 PAT soars to Rs 2,078 cr

On a consolidated basis, REC's net profit soared 338.37% to Rs 2,077.84 crore on 19.27% increase in total revenue from operations to Rs 9,211.46 crore in Q4 March 2021 over Q4 March 2020.

Profit before tax jumped 307.14% to Rs 2,704.38 crore in Q4 FY21 as against Rs 664.23 crore in Q4 FY20.

During the financial year, REC's net profit spurted 68.49% to Rs 8,378.24 crore on 18.88% rise in total revenue from operations to Rs 35,552.68 crore in FY 2021 over FY 2020.

The firm said that it has not experienced any significant impact on its liquidity position owing to robust credit profile and access to diversify sources of borrowings. The company has put in place adequate liquidity buffers in the form of working capital/term loan limits from various banks apart from high quality liquid assets.

The Government of India, as a part of its COVID-19 relief package, had announced liquidity injection to the state discoms in the form of State Government gauranteed loans through REC and PFC (Power Finance Corporation) to clear the outstanding dues of power generation and transmission companies. As on 15 May 2021, REC had already sanctioned and disbursed Rs 67,083 crore and Rs 40,766 crore respectively to discoms as a part of its liquidity package.

REC is a Navratna Central Public Sector Undertaking under the Ministry of Power. It is a leading infrastructure finance company. Its business activities involve financing projects in the complete power sector value chain, be it generation, transmission or distribution. The company provides financial assistance to state electricity boards, state governments, central/state power utilities, independent power producers, rural electric cooperatives and private sector utilities through our extensive network of 22 offices across the country.

Shares of REC fell 0.48% to Rs 145.35 on BSE. The scrip traded in the range of Rs 144.85 to Rs 148 so far.

Powered by Capital Market - Live News