Monday 17 September 2018

REC stock gains on strong Q1FY19 numbers

Shares of Rural Electrification Corporation were trading marginally up in the late morning session on Monday after the company reported a significant improvement in net profit for Q1FY19 due to a one-time income from other sources. Net profit of the company during the first quarter of FY19 rose 36.5% yoy to 1,496cr, while Net interest income fell 10.5% yoy to Rs2,041cr. Further, its Loan book at the end of Q1FY19 stood at Rs2.42 lakhcr and gross NPAs stood at 8.12%, up 552bps yoy. Net NPAs at the end of Q1FY19 stood at 4.27%, up 255bps yoy.


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