REC Ltd.

Rural Electrification Corporation (REC) has announced the results for the quarter and year ended March 31, 2011.

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.

On consolidated basis, the net profit for the year ended March 31, 2011 has rose by 27.82% at Rs 2584.90 crore as compared to Rs 2022.25 crore for the year ended March 31, 2010. Its total income has increased by 26.45% to Rs 8532.20 crore for the year under review from Rs 6747.63 crore a period ago.

REC has recommended final dividend of Rs 4 per share on the face value of Rs 10 each for the financial year 2010-11, subject to approval of the shareholders in the ensuing Annual General Meeting. The total dividend (including interim dividend) for the financial year 2010-11 is Rs 7.50 per share on the face value of Rs 10 each.