{"id":512356,"date":"2022-08-05T16:10:13","date_gmt":"2022-08-05T10:40:13","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=512356"},"modified":"2022-08-05T16:10:13","modified_gmt":"2022-08-05T10:40:13","slug":"rec-q1-net-rises-8-per-cent-to-rs-2454-cr","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/rec-q1-net-rises-8-per-cent-to-rs-2454-cr\/","title":{"rendered":"REC Q1 net rises 8 per cent to Rs 2,454 cr"},"content":{"rendered":"<p>State-owned REC Ltd has posted an 8 per cent increase in its consolidated net profit at Rs 2,454.16 crore for the first quarter ended June 30, on the back of reduced expenses. The company had clocked a net profit of Rs 2,268.66 crore during the April-June quarter of financial year 2021-22, the company said in a regulatory filing.<\/p>\n<p>Its total income, however, fell to Rs 9,506.06 crore in the quarter under review, from Rs 9,555.45 crore in the year-ago quarter.<\/p>\n<p>Total expenses of the company also got reduced to Rs 6,556.09 crore in the first quarter of this financial year, from Rs 6,769.62 crore a year ago.<\/p>\n<p>In a separate statement, REC said its loan book has increased to Rs 3.88 lakh crore as on June 30, 2022.<\/p>\n<p>REC Ltd, under the Power Ministry, is a non-banking financial company (NBFC), focusing on power sector financing and development across India.<\/p>\n<p>It provides financial assistance to state electricity boards, state governments, central\/state power utilities, independent power producers, rural electric cooperatives, and private sector utilities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-owned REC Ltd has posted an 8 per cent increase in its consolidated net profit at Rs 2,454.16 crore for the first quarter ended June 30, on the back of reduced expenses. The company had clocked a net profit of Rs 2,268.66 crore during the April-June quarter of financial year 2021-22, the company said in a regulatory filing. Its total income, however, fell to Rs 9,506.06 crore in the quarter under review, from Rs 9,555.45 crore in the year-ago quarter. Total expenses of the company also got reduced to Rs 6,556.09 crore in the first quarter of this financial year, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-512356","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/512356","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=512356"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/512356\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=512356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=512356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=512356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}