Mumbai, February 14, 2017 (GPN) : Rural Electrification Corporation Limited (REC), a Navratna Public Sector Company has declared its financial results for the quarter and nine months ended 31 December 2016 as approved by its Board of Directors in the meeting held on 14 February 2017.

 ·         Total Income of the Company for the nine months ended 31 December 2016 has increased to Rs. 18,117 crores as against corresponding nine months ended 31 December 2015 of Rs. 17,672 crores.

Total Income of the Company for the quarter ended 31 December 2016 has decreased marginally to Rs. 5,958 crores as against corresponding quarter ended 31 December 2015 of Rs. 6,037 crores.

 ·         Profit after Tax (PAT) of the company for the nine months ended 31 December 2016 is Rs. 4,927 crores as against Rs. 4,468 crores for the nine months ended 31 December 2015 registering an increase of 10% over the corresponding nine months last year.

Profit after Tax (PAT) of the company for the quarter ended 31 December 2016 isRs. 1,754 crores as against Rs. 1,370 crores for the quarter ended 31 December 2015 registering an increase of 28% over the corresponding quarter last year.

 ·         Net worth of the company as at 31 December 2016 has increased to Rs.33,553 crores as against Rs. 28,014 crores over the corresponding period last year, registering a growth of 20%.

 ·         Loan Book of the company has increased to Rs. 2,01,937 crores and theoutstanding borrowings is Rs. 1,67,612 crores as on 31 December 2016.

 ·         Loan quality has also improved sequentially with Gross NPAs at 2.32% as at 31 December 2016 as against 2.45% as at 30 September 2016. 

 ·         The Authorised Capital of the Company as at 31 December 2016 is Rs.5,000 crores. During the last quarter, the Company had allotted bonus shares to its shareholders in the proportion of one bonus share of Rs. 10/- each for every existing one fully paid-up share of Rs.10/- each. Accordingly, the paid-up capital increased to Rs. 1,974.92 crores from Rs. 987.46 crores as a result of issue of bonus shares.

 ·         The book value per share of Rs. 10/- each (calculated as Net worth/ No. of Shares) stands at Rs. 169.90 as at 31 December 2016.

 ·         Earnings per Share (EPS) (calculated as Profit after Tax/ No. of Shares) for the nine months ended 31 December 2016 has been Rs. 24.95 per share of Rs. 10/- each, post bonus issue.

EPS for the quarter ended 31 December 2016 has been Rs. 8.88 per share of Rs.10/- each, post bonus issue.

 ·         The Company has declared aninterim dividend for the FY 2016-17 ofRs. 7/- per equity share of Rs. 10/- each.