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State-run Rural Electrification Corporation today reported a nearly 53 per cent jump in profit-after-tax to Rs 954 crore for the three months ended September 30, 2012.
The company, which mainly provides loans for various power projects, had a profit-after-tax of Rs 624 crore in the same period a year-ago.
During the second quarter, REC’s total income shot up to Rs 3,314 crore from Rs 2,570 crore in the year-ago period, according to a press release.
“The loan asset book as on September 30, 2012 has increased to Rs 1,11,965 crore and the outstanding borrowings stood at Rs 95,092 crore,” it said.
For the six months ended September 30, 2012, the company’s earnings per share stood at Rs 18.54 per share while its net worth has increased to Rs 16,576 crore.
REC provides loans to state electricity boards, power utilities, state governments, rural electric cooperatives, NGOs and private power developers.
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