REC said that it has disbursed loans amounting to Rs 47,303 crore in Q2 FY24-25, which is higher by 13.71% as compared with Rs 41,598 crore disbursed in Q2 FY23-24.
Of this, renewable energy loans aggregated to Rs 5,946 crore, up 37.35% YoY. Renewable energy loans accounted for 13% of total disbursals in Q2 FY24-25 as against 10% in Q2 FY23-24.
For the half year ended on 30 September 2024, REC has disbursed loans worth Rs 90,955 crore, up 20.10% YoY. The quantum of renewable energy loans stood at Rs 11,297 crore, up 92.68% YoY.
REC is a government-owned infrastructure finance company in India. They fund projects in power (including new technologies) and non-power sectors (roads, metro, IT, etc.) for both government and private companies.
The company reported 16% rise in standalone net profit to Rs 3,442 crore on a 19% increase in total income to Rs 13,037 crore in Q1 FY25 over Q1 FY24.
The scrip fell 2.68% to currently trade at Rs 541.90 on the BSE.
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