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REC provides financing to the power sector. Photo: Mint
REC provides financing to the power sector. Photo: Mint

REC net profit up 8% at Rs1,751 crore in July-September quarter

The company had posted a net profit of Rs1,619.19 crore in the corresponding quarter a year ago, REC said in a BSE filing

New Delhi: State-run Rural Electrification Corp’s Ltd (REC) standalone net profit surged over 8% at Rs1,751.27 crore in the second quarter of this fiscal.

The company had posted a net profit of Rs1,619.19 crore in the corresponding quarter a year ago," it said in a BSE filing on Wednesday.

According to the statement, total income increased to Rs6,108.55 crore for the quarter from Rs5,924.73 crore in the three-month period ended 30 September 2015. The company provides financing to the power sector. During the quarter under review, its interest income decreased to Rs5,755.86 crore from Rs5,827.05 crore in the same period last year.

However, its other operating income increased to Rs200.96 crore in the quarter ended 30 September, against Rs66.32 crore in the three months last fiscal.

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