REC Q1 results show revenue up from 10254.63 crores to 11091.77 crores, an 8.16% increase in growth. EPS rise from ₹11.51 to ₹11.27, down by -2.09%.
First, Let’s Begin with Quarter-on-Quarter Basis:
REC shared its Q1 results on Wednesday. They earned 11091.77 crores in revenue this quarter, but that’s more than the 10254.63 crores they made last quarter. The company’s growth increased by 8.16 percent when comparing the two quarters.
In terms of profits, the company’s PAT (Profit After Tax) for this quarter was 2968.05 crores, down from 3065.37 crores in the previous quarter. Their quarter-to-quarter growth decreased by -3.17 percent.
The company’s EPS (Earnings Per Share) this quarter is ₹11.27, which is a decrease of -2.09% from the ₹11.51 EPS in the previous quarter.
Now, Let’s Analyze the Results on a Year-over-Year Basis:
The company made a total revenue of 11091.77 crores this year (2023), which is 16.68 percent higher than last year’s total revenue of 9506.06 crores.
This year’s PAT (Profit After Tax) is 2968.05 crores, which is also 20.94% higher than last year’s PAT of 2454.16 crores.
The EPS (Earnings Per Share) for this year is ₹11.27, which is 20.92% more than the EPS of ₹9.32 earned last year.
Also Read: Tech Mahindra Q1FY24 Results: Consolidated PAT of Rs. 692.5 Cr
REC Share Dividend Announcement / Record Date:
The record date for the dividend has not arrived yet.
About REC:
REC Limited, previously known as Rural Electrification Corporation Limited, operates as a subsidiary of Power Finance Corporation Limited, which, in turn, is under the ownership of the Ministry of Power, Government of India. REC Limited is primarily involved in financing and promoting power projects across India.
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