Rural Electrification Corporation?s profit after tax (PAT) grew 9% in the January-March 2012 quarter, compared to the corresponding period of the previous year, the company said on Thursday.
REC report a PAT of R763 crore in the quarter under review, against R700 crore in the same period of the past year.
On a year-on-year basis, the company?s PAT increased 9.61% to R2,817 crore from the same quarter of the previous year. The company?s total income increased 24% to R10,509 crore. It reported net interest income of R1,021 crore in the Jan-March quarter against R854 crore in the corresponding period last year.
Total loan assets increased 26% to R1.08 lakh crore during the fiscal 2011-12 and outstanding borrowings went up 29% to R89,968 crore.
The company could sanction R50,836 crore in the fiscal 2011-12, down from R66,421 crore in the previous fiscal. However, its loand disbursement at R27,820 crore was 13% higher, when compared with the previous financial year.
