REC net up 37 pc at Rs 1,468.7 cr in April-June quarter
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REC net up 37 pc at Rs 1,468.7 cr in April-June quarter

State-run Rural Electrification Corporation (REC) posted about 37 per cent jump in its net profit at Rs 1,468.70 crore for the April-June quarter compared to the year ago period on higher revenues and lower impairments. The company s standalone net profit in the quarter ended on June 30, 2017, was Rs 1,075.96 crore, REC said in a statement. The company has adopted Indian Accounting Standards (Ind-AS)from this fiscal and presented its first Ind-AS Compliant financial results. The total income of the company was Rs 6,319 crore in the first quarter, up from Rs 5,628 crore year ago. The Earnings per Share (EPS) during the first quarter of FY2019 has also increased to Rs 7.44, in comparison to EPS of Rs 5.45 during the year-ago quarter, it said. In spite of the challenging business environment, the loan book of the company has shown a healthy increase of 16 per cent and has grown to Rs 2.42 lakh crore as at June 30 2018, as against Rs 2.08 lakh crore as at June 30 2017, it added. The loan .

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