Rural Electrification Corporation Limited (REC), a Navratna Public Sector Company has declared its financial results for the quarter ended 30 th June, 2016 as approved by its Board of Directors in meeting held on 11 th August, 2016.
Total Income of the company for the quarter ended on 30 th June, 2016 has increased to Rs.6,051 crores as against corresponding quarter ended on 30 th June, 2015 of Rs.5,710 crores registering an increase of 6% for the quarter. Profit after tax of the company for the quarter ended on 30 th June, 2016 is Rs.1,421 crores. EPS for the quarter ended 30 th June, 2016 stood at Rs.14.39. Net worth of the company has increased to Rs.29,952 crores as against Rs.26,267 crores over the corresponding period of last year, registering a growth of 14%. The Loan Asset Book of the company has increased to Rs.1,88,835 crores and the outstanding borrowings is Rs.1,70,503 crores as on 30 th June, 2016.
The Board of Directors of the Company in its meeting held on 11 th August, 2016 have recommended issue of Bonus Shares in the proportion of one bonus share of Rs.10/- each for every existing one fully paid-up share of Rs.10/- each for the approval of the Members in the ensuing Annual General Meeting by capitalisating the Securities Premium Account.