Total income stood at Rs 9,795.47 crore in the quarter ended 31 December 2022, declining 2.7% from Rs 10,069.11 crore reported in the same period a year ago.

Consolidated profit before tax grew 4.6% to Rs 3,610.23 crore in Q3 FY23 as compared with Rs 3,451.60 crore recorded in the corresponding quarter previous year.

Total expenses fell 6.53% year on year to Rs 6,185.24 crore in Q3 FY23. Finance cost was at Rs 6,133.94 crore (up 10.56% YoY) and employee benefits expense was at Rs 57 crore (up 23.91% YoY).

Meanwhile, the company's board declared a second interim dividend of Rs 3.25 per share for the financial year 2022-23. The record date for the same is fixed on Thursday, 9 February 2023 and the dividend shall be paid/dispatched on Tuesday, 28 February 2023.

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.