State-run Rural Electrification Corporation (REC) said its standalone net profit dipped 36.72 per cent at Rs 834.79 crore in the quarter ended March 2018 mainly due to lower revenues.
The company's standalone net profit stood at Rs 1,319.23 crore in the quarter ended March 2017, it said in a BSE filing.
Total revenue in the March quarter declined to Rs 5,665.03 crore from Rs 5,980.58 crore a year ago.
Consolidated net profit of the company stood at Rs 4,689.46 crore in 2017-18, down from Rs 6,313.37 crore in the previous fiscal.
The company's total income dipped to Rs 23,101.40 crore in 2017-18 from Rs 24,361.23 crore in the previous fiscal.
REC's board, in a meeting held today, also recommended the payment of final dividend of Rs 1.75 per share on the face value of Rs 10 each for 2017-18.
The final dividend is in addition to the interim dividend of Rs 7.40 per equity share already declared in February, 2018, thereby making total dividend for 2017-18 to Rs 9.15 per share, on the face value of Rs 10 each. The final dividend for 2017-18, if declared at the ensuing annual general meeting (AGM), will be paid to the shareholders within 30 days from the date of AGM.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app