REC gains after Q4 PAT rises nearly 11% YoY

16 May 2022 , 12:31 PM

Operating profit increased by 5.8% YoY to Rs 3,624.66 crore in Q4 FY22. Provisions and write offs aggregated to Rs 761.86 crore (up 5.9% YoY) in the fourth quarter. Profit before tax in Q4 FY22 stood at Rs 2,857.31 crore, up by 5.7% from Rs 2,704.38 crore in Q4 FY21. REC recorded a 19.8% increase in consolidated net profit to Rs 10,035.70 crore on a 10.6% rise in total income to Rs 39,339.20 crore in FY22 over FY21. REC, a Navratna company under the Ministry of Power, provides financial assistance to the power sector in all segments. It funds its business with market borrowings of various maturities, including bonds and term loans apart from foreign borrowings. Powered by Capital Market – Live News