REC, a Navratna company under the Ministry of Power, provides financial assistance to the power sector in all segments. It funds its business with market borrowings of various maturities, including bonds and term loans apart from foreign borrowings.
The company recorded 8.2% rise in consolidated net profit to Rs 2,454.16 crore on a 0.5% decline in total income to Rs 9,506.06 crore in Q1 FY23 over Q1 FY22.
Shares of REC closed 0.73% higher at Rs 103.65 on the BSE
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