Rural Electrification Corporation Limited (REC) a Navratna Public Sector Undertaking has paid to the Government the final dividend of Rs. 113.43 crore for the Financial Year 2013-14, on its share capital held by the Government. A cheque of the amount was handed over to Sh. Piyush Goyal, Minister of State for Power, Coal and New & Renewable Energy (Independent charge) by Sh. Shri Rajeev Sharma, Chairman and Managing Director of Rural Electrification Corporation Limited (REC), in presence of Director (Technical) and Director (Finance) of the Company here yesterday.
This is in addition to Rs. 511.19 crore paid as Interim Dividend for the Financial Year 2013-14 to the Government of India. The Company paid a total Dividend of Rs.938.09 crore (95% on the paid-up share capital) for the Financial Year 2013-14, which includes Interim Dividend of Rs. 765.28 crore and Final Dividend Rs. 172.81 crore.
The Company registered record performance for the Financial Year ended March 31, 2014 in key areas of Disbursements of Loans, Recoveries, Operating Income and Profits and continues to register higher growth in the current Financial Year also. During the First Quarter ended June 30, 2014, the Company sanctioned new projects of Rs. 16,710 crore and disbursed Rs. 8465 crore to various power sector borrowers. During the first quarter of Financial Year 2014-15, the Company recorded a PBT of Rs. 1,774.88 crore and PAT of Rs. 1,282.79 crore registering a y-o-y growth @ 12% and 11% respectively.
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This is in addition to Rs. 511.19 crore paid as Interim Dividend for the Financial Year 2013-14 to the Government of India. The Company paid a total Dividend of Rs.938.09 crore (95% on the paid-up share capital) for the Financial Year 2013-14, which includes Interim Dividend of Rs. 765.28 crore and Final Dividend Rs. 172.81 crore.
The Company registered record performance for the Financial Year ended March 31, 2014 in key areas of Disbursements of Loans, Recoveries, Operating Income and Profits and continues to register higher growth in the current Financial Year also. During the First Quarter ended June 30, 2014, the Company sanctioned new projects of Rs. 16,710 crore and disbursed Rs. 8465 crore to various power sector borrowers. During the first quarter of Financial Year 2014-15, the Company recorded a PBT of Rs. 1,774.88 crore and PAT of Rs. 1,282.79 crore registering a y-o-y growth @ 12% and 11% respectively.
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