Rural Electrification Corporation (REC) has reported results for second quarter ended September 30, 2017.
The company has reported a fall of 30.64% in its net profit at Rs 1,214.66 crore for the quarter under review as compared to Rs 1,751.27 crore for the same quarter in the previous year. Total revenue of the company decreased by 7.87% at Rs 5,627.71 crore for Q2FY18 as compared Rs 6,108.55 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.
