REC Limited (RECLTD) — Financial Results | 6 February 2025(2 announcements)

REC Limited reported a net profit of ₹2998.10 crores for Q3 FY25, up sharply from a loss of ₹13.59 crores YoY, driven by higher revenue and improved margins. The Board approved the results on February 6, 2025, and declared an interim dividend of ₹4.30 per share for FY25, payable by March 6, 2025. A 50:50 joint venture with Mahagenco Renewable Energy Limited was formed to develop renewable energy projects, subject to clearances. Total borrowings stood at ₹2,01,336.22 crores, slightly down from ₹2,01,455.10 crores YoY. The company also raised funds via private placements totaling ₹11,233.5 crores but has not utilized the proceeds. Revenue components include interest, dividend, and fee income, though total revenue was not explicitly stated. The financials reflect strong recovery, with profit before tax and comprehensive income turning positive after a prior-year loss.

REC Limited reported a net profit of ₹4029.09 crores for Q3 FY25, up sharply from ₹1190.00 crores YoY, driven by strong revenue growth and improved margins. The board approved an interim dividend of ₹4.30 per share, payable by March 6, 2025, to shareholders on record as of February 14, 2025. A 50:50 joint venture with Mahagenco Renewable Energy Limited was formalized to expand renewable energy projects. The filing confirms no material misstatements and requires dividend claimants to submit PAN by February 14, 2025, to benefit from lower TDS rates.