REC Q2 net profit up 25.05% at Rs 2738.79 cr
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The company reported standalone net profit of Rs 2,738.79 crore for the quarter ended September 30, 2021 as compared to Rs 2190.20 crore in the same period last year, registering a year-on-year growth of 25.05 per cent. Net revenue of the company rose moderately by 10.03 per cent at Rs 9,724.01 crore in July-September quarter of this fiscal as against Rs 8,837.84 crore in the corresponding period last year. During July-September quarter, operating expenses increased by 87.02 per cent to Rs 1,129.60 crore from Rs 603.99 crore in year ago period. Other Income grew by 228.48 per cent at Rs 39.68 crore versus (Sep'20 Rs 12.08 crore).
Operating Profit surged by 8.98 per cent to Rs 8,909.54 crore as against Rs 8,175.39 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 0.95 per cent in September quarter. Interest grew by 2.78 per cent y-o-y to Rs 5,562.55 crore, while Taxation increased by 10.32 per cent at Rs 643.23 crore (Sep'20 Rs 583.05 crore)
