REC posts 48% jump in net profit

The momentum continued on the results front as the state-run REC on Wednesday announced a 48 per cent year-on-year rise in its net profit for the quarter ended December 2009.

The momentum continued on the results front as the state-run Rural Electrification Corporation (REC) on Wednesday announced a 48 per cent year-on-year rise in its net profit for the quarter ended December 2009.

HT Image

The company’s net profit rose to Rs 474 crore in the quarter ended December 31, 2009, from Rs 318.6 crore in the same period last year. During the period October to December the total income of the company rose to Rs 1,706 crore from Rs 1,275 crore in thesame quarter previous year, a growth of 34 per cent. The results led to a rise in the share price of the company as it rose by 1.4 per cent during the day to close at Rs 255.6.