REC posted a 34% jump in its net profit in the fourth quarter of the financial year 2023-24 at Rs 4,016 crore compared to Rs 3,001 crore in in the corresponding period a year ago.Its revenues from operations rose by 25% to Rs 12,613 crore in Q4FY24 from Rs 10,113 crore in Q4FY23.The company’s total sanctions increased by 34% to Rs 3.6 trillion in Q4FY24.
Total sanctions to the renewable sector surged over six times to Rs 1.36 trillion.REC said it posted highest ever annual net profit of Rs 14,019 in FY24.The company’s chairman and managing director Vivek Kumar Dewangan said REC would be a zero non performing assets (NPAs) company by FY2025.
