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Out of the total loan sanctioned, renewable energy loan sanctions increased 58.72% to Rs 39,655 crore in the quarter ended 30 June 2024 as compared with Rs 24,985 crore in the quarter ended 30 June 2023.
Total loan disbursements stood at Rs 43,652 crore in Q1 FY25, representing a 27.89% year-on-year increase. Out of this, Rs 5,351 crore went towards renewable energy projects, which is steeply higher than Rs 1,534 crore recorded in the same period last year.
REC is a government-owned infrastructure finance company in India. They fund projects in power (including new technologies) and non-power sectors (roads, metro, IT, etc.) for both government and private companies.
On a consolidated basis, net profit of REC rose 33.07% to Rs 4,079.09 crore on 23.91% rise in total income to Rs 10,254.63 crore in Q4 2024 over Q4 2023.
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