 "power reforms")
State-owned key lender to power sector Rural Electrification Corporation (REC) reported 30 per cent decline in standalone net profit to Rs 1,214.66 crore in the second quarter ended September 30, 2017 owing to lower revenues.The company's standalone net profit was Rs 1,751.27 crore in the quarter ended September 30, 2016.
The total revenue of the company decreased to Rs 5,627.71 crore in the second quarter from Rs 6,108.55 crore in the same period last financial year. The interest income of the company has declined to Rs 5,371.05 crore in the September quarter from Rs 5,755.86 crore in the year-ago period.
"The company
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