Explore Business Standard
State-owned REC Ltd on Wednesday said its board has approved market borrowings of Rs 1.6 lakh crore for the fiscal 2026-27 at a meeting held on March 25. According to a regulatory filing, the market borrowings of Rs 1,60,000 crore includes raising up to Rs 1,40,000 crore through the issuance of capital gains tax exemption bonds, domestic debentures as well as rupee term loans, and external commercial borrowings. The market borrowings also fund raising up to Rs 10,000 each from short term loans and commercial papers. Funds under the borrowing programme shall be raised for different maturities, through different instruments, depending upon the actual requirement of funds, asset-liability position and prevailing market conditions, with the approval of Competent Authority as per the powers delegated in this regard by the Board of Directors, it added. Board of Directors of REC Ltd in its meeting held on March 25, inter-alia considered and approved the Market Borrowing Programme of the .
State-owned REC Ltd on Thursday posted a 23 per cent rise in consolidated net profit to Rs 4,076.35 crore in the December quarter, aided by higher income. It had posted a net profit of Rs 3,308.42 crore in the October-December period of 2023-24 financial year, the company said in an exchange filing. The company's total income rose to Rs 14,286.91 crore in the reporting quarter from Rs 12,071.54 crore in the year-ago period. Total expenses stood at Rs 9,105.94 crore in the latest December quarter as against Rs 7,899.85 crore a year earlier. The board of the company also approved a third interim dividend of Rs 4.30 per share for the financial year 2024-25 and set February 14 as the record date for shareholders to become eligible for the payment. It further approved formation of a joint venture between REC Power Development and Consultancy Limited (a wholly-owned subsidiary of REC) and Mahagenco Renewable Energy Limited in the shareholding ratio of 50:50 for the development of renewa