• Corporate
• Markets
• Info-Tech
• Marketing
• Money & Banking
• Agri-Biz & Commodities
• Industry & Economy
• Logistics
• Government
• Opinion
• Variety
• Corporate Results
• Columns
• States
• Web Extras
• Index

• Investment World
• eWorld
• Brand Line
• Mentor
• Life
• Brand Quest
• The New Manager
• Smartbuy

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

• Rates

• Ports

• Yesterday
• Datewise
• Resources
• In Focus
• In Depth
• Events 2007

Subscription

• Business Line

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

NEW DELHI: The State-run Rural Electrification Corp has announced a consolidated net profit of Rs 860.14 crore for the year ended March 31, a growth of 30.27 per cent over the previous year.

The income of the organisation, announced on Monday, for the year ended March 31 stood at Rs 3,541.25 crore, a growth of 23.95 per cent over the previous year. The Board has recommended a dividend of 30 per cent to the shareholders. REC has disbursed a subsidy of Rs 3,350 crore and a loan of Rs 401 crore under Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY).

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. It would now be able to expand its e lectricity business in the rural areas. REC is the 16th PSU to have been named as the Navratna firm. - PTI
Related Stories:
REC to fund debt portion of NTPC's Chennai project
REC IPO subscribed 28 times

Prev: M&M net down at Rs 221 cr in Q4
Next: Tax proposal news speculative, says finance ministry

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line