REC Q1 Results: Profit rises 21% to Rs 2,968 crore
The board also approved declaration of interim dividend at the rate of Rs 3 per equity share of Rs 10 each for 2023-24.
State-owned REC on Wednesday posted nearly 21 per cent rise in consolidated net profit at Rs 2,968.05 crore for June quarter 2023-24 mainly on the back of higher revenues.
In the year-ago period, the profit stood at Rs 2,454.16 crore, a BSE filing said. Total income rose to Rs 11,091.77 crore from Rs 9,506.06 crore in the same period a year ago.
The board also approved declaration of interim dividend at the rate of Rs 3 per equity share of Rs 10 each for 2023-24.
The record date for the interim dividend is August 14, 2023 and it shall be paid/ dispatched on or before August 24.
The board also approved a proposal for increasing the overall borrowing limit of the company from Rs 4,50,OOO crore to Rs 6,OO,OOO crore and in any foreign currency equivalent from USD 16 billion to USD 20 billion.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
Tata Motors shares slump up to 7% despite Q4 PAT climbing 222% YoY; should you buy, sell or hold it?
07:46 PM IST