Leading infrastructure finance company REC Limited (formerly Rural Electrification Corporation Limited) is a Maharatna PSU. The company has today declared its 3rd Quarter Earnings along with Interim Dividend for FY 2022-23.
REC said in a stock exchange filing today that its board of directors has approved the “declaration of second interim dividend”. 3.25 (Paise Three Twenty Five Only) per Equity Share 10/- each for the financial year 2022-23 as approved by the Board of Directors of REC Limited in its meeting held on 30th January, 2023. Further, the record date for the said Interim Dividend is Thursday, February 9, 2023. The said interim dividend will be paid / remitted on Tuesday, February 28, 2023 to those shareholders whose name(s) appear as beneficial owners in the statement furnished by the depository(s) at the close of business hours on Thursday . February 9, 2023 in respect of shares held in electronic form; and (b) in respect of physical shares as members in the register of members on Thursday, the 9th day of February, 2023.
In Q3FY23, the company reported a net income of 9,660.06 crore as compared to 9,573.69 Cr recorded in the year-ago quarter, registering a YoY growth of 0.90% YoY. Net income was similar for both the consolidated and standalone figures. On a consolidated basis, the company recorded a net expense of 6,185.24 crore in the quarter ending December 2022 as compared to Rs. 6,617.51 crore in the quarter ended December 2021, while on a standalone basis, the net expense 6,152.75 Cr in Q3FY23 as against Rs. 6,587.24 Cr was recorded in Q3FY22.
REC’s net profit on standalone basis reached 2,878.08 Cr in Q3FY23 as compared to Rs. 2,772.65 Cr in Q3FY22, representing a YoY growth of 3.80%, while on a consolidated basis, the company’s profit after tax (PAT) or net profit was 2,915.33 crore as against 2,773.44 Cr was recorded in the year-ago quarter, representing a YoY growth of 5.12%. Company’s EPS on standalone basis compared to 10.93 10.53 was registered in the year-ago quarter, while on a consolidated basis, REC’s EPS reached against 11.07 in Q3FY23 10.53 was recorded in the same quarter last year.
REC Ltd share on NSE today 116.10 each level, up 0.83% from previous close 115.15. The stock recorded a total volume of 77,68,757 shares as compared to 20-day average volume of 10,465,586 shares. The stock touched a 52-week high 126.25 (09-Jan-2023) and at 52-week low at 82.24 (20-Jun-2022).
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