The Hindu Business Line : REC full-year net up 30%

State-run Rural Electrification Corporation (REC) has announced a 30 per cent jump in net profit at Rs 860.15 crore (Rs 660.26 crore) for the financial year ended March 31, a growth of 30.27 per cent over the previous year. The company’s total income of the organisation for the fiscal stood at Rs 3,541.25 crore (rs 2,854 crore), a growth of 23.95 per cent.. The board has recommended a dividend of 30 per cent to the shareholders. The REC share closed up 2.22 per cent on the BSE at Rs 110.75 per share on Wednesday. The Government on May 5 granted navratna status to REC, giving it financial and administrative autonomy. The company can now take decisions of investing up to 1,000 crore or 15 per cent of its net worth independently. —

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