REC Net Profit Down

State-owned REC Ltd on Thursday said its consolidated net profit dipped slightly by 0.58 per cent to Rs 4,052.44 crore in the December quarter of FY26, mainly due to higher expenses. The company recorded a consolidated net profit of Rs 4,076.35 crore in the year-ago quarter ended December 2024, a regulatory filing showed. Total expenses rose to Rs 9,903.89 crore in the reporting quarter from Rs 9,105.94 crore in the same period a year ago. Total income also rose to Rs 15,058.60 crore in the quarter from Rs 14,286.91 crore a year ago. The board also approved the third interim dividend at 46 per cent (Rs 4.601 per equity share of face value of 10 each) for 2025-26. The record date for the dividend payment is February 6, and the payment shall be paid on or before February 27.

State-owned key lender to power sector Rural Electrification Corporation (REC) reported 30 per cent decline in standalone net profit to Rs 1,214.66 crore in the second quarter ended September 30, 2017 owing to lower revenues.The company's standalone net profit was Rs 1,751.27 crore in the quarter ended September 30, 2016. The total revenue of the company decreased to Rs 5,627.71 crore in the second quarter from Rs 6,108.55 crore in the same period last fiscal. The interest income of the company has declined to Rs 5,371.05 crore in the September quarter from Rs 5,755.86 crore in the year-ago period."The company has overcome the stagnation caused by early prepayment by the Centre's Ujwal Discom Assurance Yojana (Uday) and expects growth in business in the coming months," said P V Ramesh, CMD, REC. The company's half yearly profit till September 30, 2017 also decline by 20 per cent to Rs 2,515.80 crore from Rs 3,172.13 crore in the corresponding quarter last year. The total revenues for .