REC gains on recording decent Q2 numbers

27 Oct 2022 , 02:25 PM

Profit before tax in Q2 FY23 stood at Rs 3436.24 crore, up by 3% from Rs 3334.74 crore in Q2 FY22. Total expenses declined by 2.7% to Rs 6,527.76 crore in the quarter ended 30 September 2022 as against the corresponding quarter last year. Meanwhile, the companys board declared an interim dividend of Rs 5 per equity share for the financial year ending 31 March 23. Further, the record date for the same is 9 November 2022 and the dividend shall be paid/ dispatched on 24 November 2022. 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