REC Q2 net down 26% to ₹ 1,306.76 crore
REC Limited has reported a ₹ 1,306.76 crore net profit for the second quarter of financial year 2019-2020. This 25.95 per cent lower than the ₹ 1,764.81 crore net profit reported in the corresponding period of the previous financial year.
Total income rose to ₹ 7,425.27 crore during the quarter under review from ₹ 6,253.42 crore in the comparable period of the financial year 2018-2019. The lower profit is on account of higher expenses.
Total expenses rose to ₹ 5,585.49 crore in the quarter ending September 30, 2019 from ₹ 3,727.49 crore in the same quarter ending last fiscal.
