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Results
04-Feb-22
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Analysis
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REC
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NII rises 24% in Q3FY2022
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REC has posted strong 23% jump in the net profit to Rs
2772.65 crore in the quarter ended December 2021 (Q3FY2022). The income from
operation increased 11% to Rs 10006.89 crore in Q3FY2022. The interest expense
moved up 2% to Rs 5548.72 crore, pushing up the NII by 24% to Rs 4458.17 crore
in quarter ended December 2021. Other income jumped 555% to Rs 32.05 crore. The
total income increased 25% to Rs 4490.22 crore in the quarter ended December
2021.
The operating expenses moved up 265% to Rs 214.43 crore, while
provisions moved up 12% to Rs 819.02 crore in the quarter ended December 2021. The
Profit before Tax rose 23% to Rs 3451.70 crore in the quarter ended December
2021. The effective tax rate increased 20 bps yoy to 19.7%. The Net Profit galloped
23% to Rs 2772.65 crore in the quarter ended December 2021.
Financial
Performance 9MFY2022
For the nine months ended December 2021 (9MFY2022), REC
reported 13% increase in Income from Operations at Rs 29552.39 crore, while
interest expense increased 4% to Rs 16699.83 crore, leading to a 26% rise in
NII to Rs 12852.56 crore.
Other income moved up 318% to Rs 76.49 crore. The Staff
cost increased 11% to Rs 122.79 crore, while the other expenditure surged 56% to
Rs 482.98 crore. The Depreciation stood at Rs 12.53 crore in 9MFY2022 compared
with Rs 6.88 crore in 9MFY2021.
Provision for bad debts and standard assets jumped 58% to
Rs 2718.97 crore in 9MFY2022. Profit before Tax stood at Rs 9591.78 crore,
indicating an increase of 19% on a yoy basis.
An effective tax rate stood at 22.3% in 9MFY2022 compared
with 30.0% in 9MFY2021. The net profit of the company increased 23% to Rs 7758.04
crore in 9MFY2022
Rural Electrification Corporation:
Results
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Particulars
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2112
(3)
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2012
(3)
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Var
%
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2112
(9)
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2012
(9)
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Var
%
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2103
(12)
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2003
(12)
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Var
%
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Income from Operations
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10006.89
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9042.13
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11
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29552.39
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26242.28
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13
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35387.89
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29765.21
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19
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Interest & Finance Expenses
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5548.72
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5445.97
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2
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16699.83
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16050.94
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4
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21489.08
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18997.05
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13
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NII
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4458.17
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3596.16
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24
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12852.56
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10191.34
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26
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13898.81
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10768.16
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29
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Other Income
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32.05
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4.89
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555
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76.49
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18.32
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318
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22.55
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63.92
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-65
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Total Income
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4490.22
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3601.05
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25
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12929.05
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10209.66
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27
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13921.36
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10832.08
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29
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Staff Cost
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40.91
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42.64
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-4
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122.79
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110.22
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11
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144.84
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175.79
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-18
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Other Expenditure
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173.52
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16.16
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974
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482.98
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310.22
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56
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591.24
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2773.44
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-79
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Gross Profit
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4275.79
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3542.25
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21
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12323.28
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9789.22
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26
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13185.28
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7882.85
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67
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Depreciation
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5.07
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2.24
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126
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12.53
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6.88
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82
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9.53
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10.00
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-5
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Provisions and Write-off
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819.02
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729.96
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12
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2718.97
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1721.98
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58
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2419.62
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889.56
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172
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Profit before tax
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3451.70
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2810.05
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23
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9591.78
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8060.36
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19
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10756.13
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6983.29
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54
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Tax expense
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679.05
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547.12
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24
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1833.74
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1768.21
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4
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2394.35
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2097.13
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14
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PAT
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2772.65
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2262.93
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23
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7758.04
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6292.15
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23
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8361.78
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4886.16
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71
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EPS
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56.2
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45.8
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52.4
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42.5
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42.34
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24.74
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* Annualized on current equity of
Rs 1974.92 crore. Face Value: Rs 10, Figures in Rs crore
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Source: Capitaline Corporate
Database
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