REC Limited’s total income increases by 18 per cent in FY2019-20

REC Limited’s total income has posted an increase of 18 per cent to Rs 298.55 billion in 2019-20 as against Rs 253.41 billion for the year 2018-19.

The net interest income also posted an increase of 15 per cent to reach Rs 104.25 billion during the current year. However, in spite of healthy operational performance, the profits were impacted due to sharp depreciation in the Indian currency during Q4 FY20 owing to the volatility in global financial markets caused by Covid-19 outbreak. This led the company to end the year with the net profit of Rs 48.86 billion and earnings per share (EPS) of Rs 24.74. The company posted a profit of Rs 57.64 billion in the last financial year.

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