REC annual profit surges 35% to Rs 3,832.78 crore

MUMBAI: State-run Rural Electrification Corp today reported 35 per cent jump in consolidated net profit at Rs 3,832.78 crore for the year ended March 2013.

The company, which primarily lends to the power sector, had a net profit of Rs 2,838.66 crore in 2011-12.

Consolidated total income surged to Rs 13,636.58 crore in the previous financial year from Rs 10,553.62 crore recorded in the year ended March 2012, according to a regulatory filing.

On a standalone basis, REC's net profit climbed nearly 36 per cent to Rs 3,817.62 crore in the last financial year. In 2011-12 period, the same stood at Rs 2,817.03 crore.

Total Income went up to Rs 13,598.67 crore in the 2012-13 period from Rs 10,509.07 crore in the same period a year ago.

The company's board has recommended a final dividend of Rs 1.50 per share for the last financial year. This would be in addition to an interim dividend of Rs 6.75 per piece. For 2012-13 period, the total dividend payout would be Rs 8.25 per scrip.

Shares of the firm closed marginally down at Rs 231.25 on the BSE.