REC Q4 net profit up 14% at Rs 1,319 cr

State-run Rural Electrification Corp (REC) today reported 13.72 per cent jump in standalone net profit to Rs 1,319.23 crore for the March quarter of last fiscal, 2016-17.
Its net profit was Rs 1,160.03 crore in the January-March quarter of the previous fiscal, 2016-16, the REC stated in BSE filing today.
The company's total revenue however was down at Rs 5,978.32 crore in the fourth quarter of last fiscal, as against Rs 6,084.47 crore in the year ago period.
REC's net profit for 2016-17 was up at 6,245.76 crore, from Rs 5,627.66 crore. Its total revenue in the last fiscal was Rs 24,095.35 crore as compared to Rs 23,756.28 crore.

On consolidated basis, its net profit was Rs 6,313.37 crore for 2016-17, compared to Rs 5,691.42 crore. The total revenue was Rs 24,686 crore as against Rs 24,129.93 crore in 2015-16.
The Board today recommended the payment of final dividend of Rs 2.65 per share on the face value of Rs 10 each for 2016 -17, subject to approval of the shareholders in the ensuing Annual General Meeting.
This is in addition to the Interim Dividend of Rs 7 per equity share already declared in February, 2017 thereby making total dividend for 2016-17 to Rs 9.65 per share, on the face value of Rs 10 each.

The Final Dividend for the financial year 2016-17 of Rs. 2.65 per share, if declared at the AGM, will be paid to shareholders within 30 days from the date of AGM.