REC Ltd.

Rural Electrification Corporation (REC) has reported results for the second quarter ended September 30, 2011.

The company’s net profit for the quarter has increased marginally by 0.75% at Rs 622.87 crore as compared to Rs 618.21 crore for the corresponding quarter of the previous year. The company’s total income has rose by 25.04% at Rs 2570.05 crore for the second quarter of the current fiscal from Rs 2055.37 crore for the corresponding quarter of the previous year.

Interest and finance expenses in the latest quarter jumped to Rs 1,564.87 crore from Rs 1,208.07 crore in the comparable period. This included a one-time upfront fee of over Rs 34 crore paid towards a hike in external commercial syndicated loan.

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.