NBFC REC posts 21% increase in Q1 profit, gross NPA falls to 4.44%
Leading power sector non-banking financial company (NBFC) REC Limited posted a 21 per cent increase in its quarterly profit to touch Rs 2961 crore during Q1FY24.
The company said it is the highest ever quarterly profit as compared to corresponding period in the previous financial year.
As compared to last quarter, the profit has slipped marginally by 1 per cent.
The company said the growth in the profit is on the back of an increase in interest income on loan assets.
