REC announced the incorporation of two step-down subsidiaries (incorporated by wholly owned subsidiary of the company REC Power Development) - WRNES Talegaon Power Transmission and Khavda V-BIB2 Power Transmission. Powered by Capital Market - Live

REC announced the cessation of Dr. Gambheer Singh and Dr. Manoj Manohar Pande as Directors of the company with effect from 15 November 2024. Powered by Capital Market - Live

Shri Subhash Chandra Garg, Executive Director of REC has ceased from his position on account of superannuation on 1 November 2024, pursuant to which Shri Subrata Aich, the General Manager (Finance & Accounts) has been promoted as Executive Director of the Company.Powered by Capital Market - Live

REC has fixed 08 November 2024 as record date for 2nd interim dividend of Rs 4 per share for FY 2024-25. The dividend will be paid on or before 22 November 2024. Powered by Capital Market - Live

Net profit of REC rose 6.54% to Rs 4037.72 crore in the quarter ended September 2024 as against Rs 3789.90 crore during the previous quarter ended September 2023. Sales rose 17.06% to Rs 13682.43 crore in the quarter ended September 2024 as against Rs 11688.24 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales13682.4311688.24 17 OPM %99.29104.21 - PBDT5103.374843.75 5 PBT5097.394837.61 5 NP4037.723789.90 7 Powered by Capital Market - Live

Consolidated profit before tax grew 5.37% YoY to Rs 5,097.39 crore in the quarter ended 30 September 2024. Total expenses spiked 25.73% YoY to Rs 8,608.92 crore during the quarter. Finance cost was at Rs 8,505.61 crore (up 15.73% YoY) and employee benefits expense was at Rs 65.47 crore (up 34.96% YoY). On half yearly basis, the consolidated net profit rose 10.95% to Rs 7,497.90 crore on 17.5% increase in revenue from operations to Rs 26,761.09 crore in H1 FY25 over H1 FY24. Meanwhile, the company's board declared an interim dividend of Rs 4 per equity share for the financial year 2024-25. The record date for the said dividend is 8 November 2024 and it shall be paid/ dispatched on or before 22 November 2024. Further, the board approved incorporation of two project-specific special pnrpose vehicles, as wholly owned subsidiary companies of REC Power Development & Consultancy for the purpose of selection of bidder as transmission service provider to establish projects, through Tariff Based Competitive Bidding process. Lastly, the board of directors approved Subrata Aich as chief risk officer (CRO) of the company with effect from 1 December 2024, upon superannuation of incumbent CRO Malathi Sundararajan on 30 November 2024. REC, a Navratna company under the Ministry of Power, provides financial assistance to the power sector in all segments. It funds its business with market borrowings of various maturities, including bonds and term loans apart from foreign borrowings. Shares of REC closed 2.27% lower at Rs 509.35 on Friday, 25 October 2024.Powered by Capital Market - Live

REC announced that the Board of Directors of the Company at its meeting held on 26 October 2024, has recommended a Second Interim dividend of Rs.4 per share (i.e.40%), subject to the approval of the shareholders.Powered by Capital Market - Live

REC will hold a meeting of the Board of Directors of the Company on 26 October 2024.Powered by Capital Market - Live

Of this, renewable energy loans aggregated to Rs 5,946 crore, up 37.35% YoY. Renewable energy loans accounted for 13% of total disbursals in Q2 FY24-25 as against 10% in Q2 FY23-24. For the half year ended on 30 September 2024, REC has disbursed loans worth Rs 90,955 crore, up 20.10% YoY. The quantum of renewable energy loans stood at Rs 11,297 crore, up 92.68% YoY. REC is a government-owned infrastructure finance company in India. They fund projects in power (including new technologies) and non-power sectors (roads, metro, IT, etc.) for both government and private companies. The company reported 16% rise in standalone net profit to Rs 3,442 crore on a 19% increase in total income to Rs 13,037 crore in Q1 FY25 over Q1 FY24. The scrip fell 2.68% to currently trade at Rs 541.90 on the BSE. Powered by Capital Market - Live

REC Ltd is up for a third straight session today. The stock is quoting at Rs 548.4, up 1.09% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.06% on the day, quoting at 25955.35. The Sensex is at 84997.01, up 0.08%. REC Ltd has slipped around 7.03% in last one month. Meanwhile, Nifty Financial Services index of which REC Ltd is a constituent, has slipped around 6.59% in last one month and is currently quoting at 24953.1, down 0.1% on the day. The volume in the stock stood at 38.79 lakh shares today, compared to the daily average of 103.56 lakh shares in last one month. The benchmark September futures contract for the stock is quoting at Rs 546.75, up 0.73% on the day. REC Ltd is up 102.77% in last one year as compared to a 31.92% jump in NIFTY and a 25.63% jump in the Nifty Financial Services index.The PE of the stock is 9.85 based on TTM earnings ending June 24.Powered by Capital Market - Live