Rural Electrification Corporation Ltd's Q1FY19 standalone net profit rises 36.5% yoy to Rs1,469cr

The company’s standalone NII stood at Rs2,041cr, down 10.5% yoy but up 19.9% qoq.

Sep 14, 2018 11:09 IST India Infoline Research Team

Rural Electrification Corporation Ltd Q1FY19

Standalone Results Q1FY19: (in Rs cr)

Q1FY19 YoY (%)
NII 2,040.80 [10.5]
Net Profit (adjusted) 1,468.70 36.5


REC reported a significant improvement in net profit for Q1FY19 due to a one-time income from other sources. Net interest income fell 10.5% yoy to Rs2,041cr. Net profit stood at Rs1,469cr for the quarter, up 36.5% yoy.
  • Loan book at the end of Q1FY19 stood at Rs2.42 lakh cr. Gross NPAs at the at the end of Q1FY19 stood at 8.12%, up 552bps yoy. Net NPAs at the at the end of Q1FY19 stood at 4.27%, up 255bps yoy.
  • Yield on assets stood at 10.32% for Q1FY19, a decrease of 77bps yoy. Cost of funds decreased 32bps yoy to stand at 7.27% for the quarter. As a result, net interest margin stood at 3.72% in Q1FY19, a decrease of 91bps yoy.
  • Capital Adequacy Ratio stood at 16.66% at the end of Q1FY19.





Technical View:

Rural Electrification Corporation Ltd ended at Rs112.40, up 3.45 points, or 3.17%, from its previous close of Rs108.95 on the BSE.
The scrip opened at Rs110.05 and touched a high and low of Rs112.90 and Rs109, respectively. A total of 60,28,394 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.

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