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Rural Electrification Corporation saw 8 per cent drop in its net profit at ₹1,301.14 crore for the first quarter of the financial year 2017-2018. The company had reported a net profit of ₹1,420.86 crore during the corresponding quarter of the last financial year. Total revenue from operations came down to ₹5,571.56 crore (₹5,953.65 crore). An official statement said that NPAs have grown to 2.60 per cent during the quarter under consideration against 2.55 per cent in the corresponding quarter of the last financial year. The fall in revenue and growth in NPA percentage is because of pre-payments by states that have joined the Ujjwal Discom Assurance Yojna.
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