REC Limited has declared a profit of Rs 34.42 billion, which is 16 per cent higher than the previous year’s quarter 1 profit of Rs 29.61 billion. Their total revenue has also risen to 130.23 billion, a 19 per cent increase from the preceding year’s revenue at Rs 109.76 billion. Their net worth has increased to Rs 723.51 billion as on June 30, 2024. A dividend of Rs 3.5 per equity share was declared by the Board of Directors.
REC is a non-banking finance company and finances the power sector including generation, transmission, distribution, renewable energy sectors. They have been pivotal to the government schemes including Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGAYA), Deen Dayal Upadhaya Gram Jyoti Yojana (DDUGJY), PM Surya Ghar Muft Bijli Yojna.
