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REC fixes coupon rate for bond sale

28 May 2011 Evaluate

State-run Rural Electrification Corporation (REC) has set coupon rate for its proposed bond sale. The company has fixed a coupon rate of 9.70 percent for its one-year one-day bonds and 9.75 percent for its three-year bonds. REC had invited investors to raise atleast Rs 500 crore via bonds.

The company has reported a surge of 24.79% in its net profit to Rs 700.26 crore for the fourth quarter as compared to Rs 561.17crore for the same quarter last year. Total income has increased by 23.36% to Rs 2306.33 crore for the quarter to from Rs 1869.57 crore in the same quarter previous year.

The company has posted a net profit of Rs 2569.92 crore for FY11, jumped by 28.40% as compared to Rs 2001.42 crore in the last year. Total income has increased by 26.65% to Rs 8495.26 crore for the year from Rs 6707.60 crore in last year.

Rural Electrification Corporation 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.

REC Share Price

336.55 -11.80 (-3.39%)
11-Jun-2026 16:59 View Price Chart
Peers
Company Name CMP
Power Finance Corp 413.50
REC 336.55
Indian Railway Fin. 93.31
NHIT 160.00
Satin Creditcare 220.00
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