This is REC’s sixth line of credit under Indo-German Development Cooperation, which the firm will utilize to re-finance investments in the distribution infrastructure of DISCOMs in alignment with the Revamped Distribution Sector Scheme (RDSS) of the Government of India, said the company.

REC is a leading Infrastructure Finance Company in India and the principal products of REC are interest-bearing loans to State Electricity Boards, State Power utilities/State Power Departments and Private sector for all segments of Power infrastructure.

The company’s consolidated net profit jumped 38.7% to Rs 3,789.90 crore on 17.4% jump in total income to Rs 1,1701.26 crore in Q2 FY24 over Q2 FY23.

The scrip advanced 2.80% to settle at Rs 405.85 on Friday, 8 December 2023.