REC posts 30 pc jump in net profit at Rs 1,667 cr in Q3

New Delhi, Feb 4 () Shadow banking firm REC Ltd on Tuesday posted around 30 per cent jump in its consolidated net profit to Rs 1,666.81 crore in the December 2019 quarter, mainly due to higher revenues.

Its consolidated net profit was Rs 1,284 crore in the corresponding quarter a year ago, according to a BSE filing.

The company's consolidated total income rose to Rs 7,533.80 crore in the third quarter, compared with Rs 6,626.74 crore a year ago.

The firm also said its board of directors in the meeting on February 4, 2020, declared and approved payment of interim dividend at the rate of Rs 11 per equity share of Rs 10 for 2019-20.

The record date for the interim dividend is February 12. It shall be paid or dispatched on February 24 to shareholders.

The company's consolidated net profit in the April-December period this fiscal is Rs 4,450.45 crore compared to Rs 4,507.59 crore in the year-ago period. The company earned a profit of Rs 5,763.72 crore in 2018-19. KKS HRS