Gurugram (31. 01.2023): The Board of Directors of REC Limited on Monday approved the unaudited standalone and consolidated financial results for the quarter that ended on December 31, 2022. REC recorded its highest ever quarterly profit of ₹2,878 crore. As a result, the Earnings per Share for the quarter ended December 31, 2022 stands at ₹43.72 per share as against ₹41.44 per share on September 30, 2022.

Aided by growth in profits, the Net Worth has grown to ₹54,840 Crore as on December 31, 2022, an increase of 3 per cent QoQ. The loan book has maintained its growth trajectory and has risen by 4 per cent to ₹4.11 lakh Crore as on December 31, 2022. Signifying the improving asset quality, the Net Credit-impaired assets have reduced to 1.12 per cent with Provision Coverage Ratio of 69.11 per cent on NPA assets, as on December 31, 2022.

The Capital Adequacy Ratio of the Company stands at a comfortable 25.00 per cent as on December 31, 2022, implying ample opportunity to support future growth of business operations. Continuing the tradition of rewarding its shareholders, the Board of Directors of the Company have declared the second interim dividend of ₹3.25 per equity share and February 9, 2023 has been fixed as Record Date for payment of Interim Dividend. With this, the total Interim Dividend for the financial year 2022-23 is ₹8.25 per equity share (on face value of ₹ 10/- each).