Rural Electrification Corporation has reported a ₹1,764-crore net profit for the second quarter of financial year 2018-19. This is 25 per cent higher than the ₹1,408-crore reported by the company in the same quarter of financial year 2017-18.
Sanctions were at ₹49,003 crore, while disbursements stood at ₹24,226 crore during the quarter under review. Sanctions stood at ₹22,300 crore and disbursements were at ₹13,751 crore during the corresponding quarter of the last financial year.
A company statement said, “The loan book of the company has seen a healthy growth of 19 per cent as it grew from ₹2.16 lakh crore as at September 30, 2017 to ₹2.57 lakh crore as at September 30, 2018.”
The company said that gross non-performing asset per cent has improved sequentially from 8.12 per cent as at June 30, 2018 to 7.92 per cent as on September 30, 2018.