New Delhi (28.05.2021): REC Ltd has reported its best-ever performance on all counts. Its net profit soared 71% to ₹ 8,362 crores in FY21 from ₹ 4,886 crores in FY20 even as its total income rose 19% to ₹35,410 crores Vs ₹ 29,829 crores. The company's Board of Directors approved the audited standalone and consolidated financial results for Q4 & 12M FY21 on May 28, 2021. The audited report shows that the company improved its operational parameters on each and every count in FY21 over FY20: Sanctions of ₹ 1,54,821 crore spurted 40% over ₹1,10,908 crore and disbursements of ₹92,987 crores jumped 23% to ₹75,667 crores. The healthy operational performance also marked the Q4FY21 which saw the profit spiraled to ₹2,070 crores from ₹436 crores during Q4 FY20. This translates to Earnings Per Share (EPS) (non-annualized) of Rs. 10.48 for the quarter ended 31st March 2021 Vs ₹ 2.21 per share during the same quarter last year. Because of the huge expansion in profits, the Net Worth of the Company as of 31st March 2021 reached ₹43,426 crores with a book value of ₹220 per share. The Capital Adequacy Ratio of the Company has also improved sequentially to 19.72% as of 31st March 2021 which will aid the future growth of the Company. The improvement in asset quality reflected in the net credit-impaired assets decelerating to 1.71% as of 31st March 2021 from 3.32% on 31st March 2020. The Provisioning Coverage Ratio of the Company has also improved to 64.59% as of 31st March 2021 Vs 49.65% as of 31st March 2020.
REC reports its best-ever performance in FY21
By IndianMandarins - 2021-05-31 09:52:00
New Delhi (28.05.2021): REC Ltd has reported its best-ever performance on all counts.
Its net profit soared 71% to ₹ 8,362 crores in FY21 from ₹ 4,886 crores in FY20 even as its total income rose 19% to ₹35,410 crores Vs ₹ 29,829 crores.
The company's Board of Directors approved the audited standalone and consolidated financial results for Q4 & 12M FY21 on May 28, 2021.
The audited report shows that the company improved its operational parameters on each and every count in FY21 over FY20: Sanctions of ₹ 1,54,821 crore spurted 40% over ₹1,10,908 crore and disbursements of ₹92,987 crores jumped 23% to ₹75,667 crores.
The healthy operational performance also marked the Q4FY21 which saw the profit spiraled to ₹2,070 crores from ₹436 crores during Q4 FY20. This translates to Earnings Per Share (EPS) (non-annualized) of Rs. 10.48 for the quarter ended 31st March 2021 Vs ₹ 2.21 per share during the same quarter last year.
Because of the huge expansion in profits, the Net Worth of the Company as of 31st March 2021 reached ₹43,426 crores with a book value of ₹220 per share. The Capital Adequacy Ratio of the Company has also improved sequentially to 19.72% as of 31st March 2021 which will aid the future growth of the Company.
The improvement in asset quality reflected in the net credit-impaired assets decelerating to 1.71% as of 31st March 2021 from 3.32% on 31st March 2020. The Provisioning Coverage Ratio of the Company has also improved to 64.59% as of 31st March 2021 Vs 49.65% as of 31st March 2020.
