REC is a Central Public Sector Undertaking under the Ministry of Power involved in financing projects in the complete power sector value chain from generation to distribution. Presenting below are its Q2 FY26 earnings results.
Q2 FY26 Earnings Results
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Total Income: ₹15,152.67 crore, up 10.7% YoY from ₹13,682 crore in Q2 FY25, driven by higher interest income and loan disbursements.
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(EBITDA): ₹14,677 crore, up 8% YoY from ₹13,585 crore, with a margin of 96.9% vs 99.3% in Q2 FY25 due to higher operational expenses.
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Net Profit (PAT): ₹4,415 crore, increased by 9.3% YoY from ₹4,038 crore in Q2 FY25, marginally down 1.1% QoQ from ₹4,465 crore in Q1 FY26.
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Profit Before Tax (PBT): ₹5,549 crore, up 8.8% YoY from ₹5,097 crore.
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Interest Income: ₹14,590 crore, up 8.2% YoY, reflecting growth in the loan book.
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Finance Cost: ₹9,131 crore, up 7.3% YoY, reflecting rising cost of funds.
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Employee Benefit Expenses: ₹66.7 crore, up 1.9% YoY.
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EPS (earnings per share): ₹16.77 up from ₹16.90 in Q1 FY26 and ₹15.21 in Q2 FY25.
Dividend and Other Highlights
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Interim dividend: Declared at ₹4.60 per equity share for FY26; record date set at October 27, 2025, with payment by November 14, 2025.
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Loan Book Growth: Robust growth in power sector lending reflects continued business momentum amid an evolving regulatory and macroeconomic scenario.
Management Commentary
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Management emphasized continued focus on power sector financing, with steady growth in sanctioned projects and execution.
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Interest income growth and stable asset quality underpin confidence in future earnings momentum despite cost pressures.
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Strategic emphasis remains on operational efficiency and maintaining a strong balance sheet as the company navigates competitive and macroeconomic challenges.
Q1 FY26 Earnings Results
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Total Income: ₹15,174 crore.
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Net Profit: ₹4,451 crore.
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EPS: ₹16.90
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.
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