Maharatna PSU company of public sector REC has released its first quarter results. The company’s profits have jumped sharply. Let us tell you that the company’s consolidated net profit rose 16.57 percent to Rs 3,460.19 crore in the April-June quarter of the current financial year. The company’s net profit was Rs 2,968.05 crore in the same quarter of the last financial year. REC Ltd., which comes under the Ministry of Power, said in a notice to the stock market that its total income rose to Rs 13,092.44 crore in the quarter under review, which was Rs 11,108.16 crore in the same quarter of the last financial year.
Bumper dividend announced
The company’s expenses increased to Rs 8,743.22 crore in the June quarter from Rs 7,386.99 crore in the same quarter of the previous financial year. The board of directors has also approved an interim dividend of Rs 3.50 per equity share of face value of Rs 10 for the financial year 2024-25.
The stock gave a spectacular return of 231%
REC’s stock has made its investors rich. In the last one year, the company’s stock has given a great return of 231%. Let us tell you that in July 2023, the price of the stock was Rs 188. Now it has increased to Rs 623.55. If we look at the return of the last 5 years, it has been 485%.
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