Rural Electrification Corp Q1 net profit down 8.42% at Rs 1,301.14 crore

State-run Rural Electrification Corporation (REC) net profit dipped 8.42 per cent to Rs 1,301.14 crore in the first quarter ended June, due to lower interest income.

The company's net profit was Rs 1,420.86 crore in the quarter ended June 30, 2016, REC said in a BSE filing today.

According to statement, the interest income of the REC decreased to Rs 5,463.23 crore in the quarter under review from Rs 5,889.52 crore in the year-ago period.

Total income of the company also declined to Rs 5,662.16 crore in the quarter ended June 2017 from Rs 6,050.73 crore in June 2016.

The company's main business is to provide finance to the power sector.

Shares of the company ended 0.92 per cent up at Rs 165.3 on BSE.