REC Q3 Results: Profit rises 5% on lower expenses

India’s state-owned infrastructure finance company NSE 4.11 % REC on Monday reported a 5.1% rise in third-quarter profit, as it cut down its total expenses.

The New Delhi-based non-banking financial company’s profit rose to Rs 2,915 crore ($357.71 million) in the three months ended December 31, from Rs 2,773 crore a year earlier, it said in a statement. Total revenue from operations fell 2.5% to Rs 9,782 crore.