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REC reports 8% rise in Q1 consolidated net profit

05 Aug 2022 Evaluate

REC has reported results for first quarter ended June 30, 2022.

The company has reported a rise of 8.93% in its net profit at Rs 2,447.26 crore for the quarter under review as compared to Rs 2,246.60 crore for the same quarter in the previous year. However, total income of the company decreased marginally by 0.45% at Rs 9,468.51 crore for Q1FY23 as compared Rs 9,511.12 crore for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 8.18% in its net profit at Rs 2,454.16 crore for the quarter under review as compared to Rs 2,268.66 crore for the same quarter in the previous year. However, total income of the company decreased marginally by 0.52% at Rs 9,506.06 crore for Q1FY23 as compared Rs 9,555.45 crore for the corresponding quarter previous year.

Peers
Company Name CMP
Power Finance Corpn. 325.25
REC 299.75
NHIT 168.00
Satin Creditcare Net 224.50
IFCI 64.02
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