The Ministry of Power’s Central Public Sector Undertaking, or REC, finances projects along the whole value chain of the power sector, from generation to distribution.
Financial Results:
REC Limited’s revenue in Q3FY23 fell 2% to ₹ 9,782 crores. Consolidated Profit After Tax came at ₹ 2,915 crores showcasing a 5% rise YoY over the corresponding period. In this quarter’s results, the reports suggested that the firm has continued to deliver consistent performance in all key operational and financial indicators in Q3Y23.
The corporation, which primarily lends to state energy boards, public utilities, and all areas of the private sector’s power infrastructure, said that interest income on loan and advances increased by over 1%.