
REC Q1 Results: Net profit rises 21% to ₹2,968 crore, dividend declared
Live MintREC Q1 Results: REC announced its April-June quarter results for fiscal 2023-24 on July 26, reporting a growth of 21 per cent in consolidated net profit at ₹2,968.05 crore, compared to ₹2,454.16 crore in the corresponding period last year. The power distributer's board also proposed raising of funds through the placement of unsecured/secured non-convertible bonds or debentures of upto ₹1,05,000 crore, subject to the approval of shareholders. ‘’…proposal of raising of funds through private placement of unsecured/secured non-convertible bonds/ debentures of upto ₹1,05,000 crore, in one or more tranches, subject to approval of shareholders in this regard in the ensuing annual general meeting,'' said REC in its exchange filing. ‘’The funds will be raised, from time to time, during a period of one year from the date of passing of resolution by the shareholders in the ensuing annual general meeting, with the approval of competent authority as per the powers delegated in this regard, by the board of directors of the company,'' added REC.
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