REC Q1 FY27 net profit down 6% YoY, up sequentially
Business
REC, a government-owned finance company, saw its Q1 FY27 net profit drop 6% year over year to ₹4,193 crore. Still, that's a solid 24% jump from last quarter.
Total income was ₹14,200 crore, just a bit higher than the previous quarter but down compared to last year.
REC trimmed expenses, loan book 5.90L/cr
REC trimmed its expenses this quarter and boosted its loan book to ₹5.90 lakh crore, the largest for any CPSU-NBFC in India.
Renewable energy loans now make up over 13% of total lending, and asset quality improved with bad loans dropping to just 0.11%.
The company's capital adequacy ratio is a healthy 23.06%, well above RBI's requirement, and shareholders can look forward to an interim dividend of ₹4.25 per share.