REC registers Highest Ever Annual Profit ; PAT of 5,628 Crore for FY 2015-16

REC Transmission Projects Company-indianbureaucracy
REC Transmission Projects Company-indianbureaucracy

Rural Electrification Corporation Limited (REC), a Navratna Public Sector Company has declared its financial results for the quarter and year ended 31 st March, 2016 as approved by its Board of Directors in a meeting held on 27 th May, 2016.

Total Income of the company for the quarter and year ended on 31 st March, 2016 has increased to ` 6,084 crore and ` 23,756 crore respectively as against corresponding quarter and year ended on 31st March, 2015 of ` 5,371 crore and ` 20,388 crore respectively thus registering an increase of 13% for the quarter and 17% for the year.

Profit after tax of the company for the quarter and year ended on 31 st March, 2016 has increased to ` 1,160 crore and ` 5,628 crore as against the corresponding quarter and year ended on 31st March, 2015 of ` 1,097 crore and ` 5,260 crore respectively, thus registering an increase of 6% for the quarter and 7% for the year.

EPS for the quarter and year ended 31 st March, 2016 stood at ` 11.75 and ` 56.99 respectively. Net worth of the company has increased to ` 28,618 crore as against ` 24,857 crore over the corresponding period of last year, registering a growth of 15%.

The Loan Asset Book of the company has increased to ` 2,01,278 crore as on 31 st March, 2016 against ` 1,79,647 crore as on 31 st March, 2016 registering a growth of 12% over the corresponding period of last year. The outstanding borrowings stood at ` 1,69,106 crore as on 31 st March, 2016.

The Board of Directors has recommended final dividend of ` 5.10 per share (on face value of ` 10/- each) for the year 2015-16, subject to approval of the Shareholders in the ensuing Annual General Meeting. The total dividend (including interim dividend) for the financial year 2015-16 is ` 17.10 per share (on face value of ` 10/- each), the highest ever declared by REC.

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