Rural Electrification Corporation (REC) has announced its audited consolidated results for the year ended March 31,2009.
The company has posted 48 per cent increase in net profit compared to last financial year.
The net profit of Rs 1,273.52 crore for the year ended March 31,2009 as compared to Rs 861.93 crore for the year ended March 31, 2008.
Total income has increased by 39 per cent from Rs 3,541.25 crore for the year ended March 31, 2008 to Rs 4,936.5 crore for the year ended March 31, 2009.
REC is a listed Government of India Public Sector Enterprise with a net worth of Rs 5,368 crore.
Its main aim is to finance and promote rural electrification projects all over the country.It provides financial assistance to state Electricity Boards, State Government Departments and Rural Electric Cooperatives for rural electrification projects.