Rural Electrification Corporation (REC) has reported results for first quarter ended June 30, 2017.
The company has reported a fall of 8.43% in its net profit at Rs 1301.14 crore for the quarter under review as compared to Rs 1420.86 crore for the same quarter in the previous year. Total revenue of the company decreased by 6.42% at Rs 5662.16 crore for Q1FY18 as compared Rs 6050.73 crore for the corresponding quarter previous year.
REC is engaged in providing financial assistance to state electricity boards, state government departments and rural electric co-operatives for rural electrification projects as are sponsored by them.
