Owing to the improving asset quality and resolution of stressed assets, REC has recorded the highest ever quarterly and yearly profit at 3,001 crores and 11,055 crores respectively. As a result, the EPS (Earnings Per Share) for the year ended 31<sup>st</sup> March 2023 stands at 41.86 per share as against ` 38.02 per share as at 31st March 2022.
Aided by growth in profits, the Net Worth has grown to 57,680 crores as on 31<sup>st</sup> March 2023, an increase of 13% YoY. The loan book has maintained its growth trajectory and has increased by 13% to 4.35 lakh crore as against ` 3.85 lakh crores as on 31st March 2022. Signifying improving asset quality, the Net Credit-impaired assets have reduced to 1.01% with Provision Coverage Ratio of 70.64% on NPA assets, as on 31st March 2023. The Capital Adequacy Ratio of the Company stands at a comfortable 25.78% as on 31st March 2023, implying ample opportunity to support the future growth.
Operational and Financial Highlights –12M FY23 vs 12 FY22 (Standalone): i) Disbursements: 96,846 crores vs. 64,150 crores; Interest Income on Loan Assets: 38,360 crores vs. 37,811 crores, up 1%; and Net Profit: 11,055 crores vs. 10,046 crores, up 10%.
REC Limited is an NBFC focusing on Power Sector Financing and Development across India. Established in 1969, REC Limited has completed over fifty years in the area of its operations.
