Rural Electrification Corp Q4 net up 45 percent

Mumbai, May 19 (IANS) State-run Rural Electrification Corp (REC) Wednesday said its net profit for January-March quarter increased by 44.6 percent to Rs.561.17 crore as against Rs.388.04 crore in the like period a year ago.

The company’s total income jumped by 29.2 percent to Rs.1,869.57 crore for the quarter ended March 2010 as compared to Rs.1,447.09 crore in the year-ago period.

The net profit during 2009-10 rose 57.3 percent to Rs.2,001.42 crore from Rs.1,272.08 crore in previous fiscal and total income grew by 36 percent to Rs.6,707.6 crore from Rs.4,931.28 crore.

The net profit for 2009-10 stood at Rs.2,022.25 crore whereas it was Rs.1,273.52 crore in previous fiscal, registering an increase of around 59 percent, according to a statement released by the company.

REC board has also recommended final dividend of Rs.3.50 per share for 2009-10, subject to approval of the shareholders.

‘The total dividend, including interim dividend, for the financial year 2009-10 is Rs.6.50 per share,’ the statement added.

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