REC rallied 3.57% to Rs 538.55 after the company said that it has disbursed loans amounting to Rs 54,692 crore in Q3 FY24-25, which is higher by 17.98% as compared with Rs 46,358 crore disbursed in Q2 FY23-24.
Of this, renewable energy loans aggregated to Rs 6,314 crore, up 58.09% YoY in disbursals for Q3 FY24-25, compared with Rs 3,994 crore disbursed in Q3 FY23-24.For the nine months ended on 31 December 2024, REC has disbursed loans worth Rs 1,45,647 crore, up 19.3% YoY. The quantum of renewable energy loans stood at Rs 17,612 crore, up 78.68% YoY.
REC, a Navratna company under the Ministry of Power, provides financial assistance to the power sector in all segments. It funds its business with market borrowings of various maturities, including bonds and term loans, apart from foreign borrowings.
REC reported a 6.54% rise in consolidated net profit to Rs 4,037.72 crore on a 17.23% increase in revenue from operations to Rs 13,682.43 crore in Q2 FY25 over Q2 FY24.
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