REC Q2 profit drops 24% to Rs 1,322 crore
New Delhi: State-run REC’s consolidated net profit dropped about 24 per cent to Rs 1,322.47 crore in the quarter ended on September 30, 2019, compared to that of Rs 1,732.75 crore in the year-ago quarter, according to a BSE filing.
Total income of the company rose to Rs 7,483.75 crore in the second quarter from Rs 6,246.05 crore in the same quarter of last year.
The company said that the loan book has continued to grow on sequential basis and has crossed Rs 3 lakh crore during the September quarter.
The loan book of the company has increased to Rs 3.01 lakh crore as at September 30, 2019, as against Rs 2.57 lakh crore as at September 30, 2018, reflecting a growth of 17 per cent.
