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In an interview to CNBC-TV18, PV Ramesh, CMD of REC spoke about the results and his outlook for the company.
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REC‘s restructured book has had no new loan additions during the quarter says Ajeet Kumar Agarwal, Director-Finance of REC while sharing details on the second quarter results with CNBC-TV18.
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Loan growth and disbursements are likely to remain steady on yearly basis. Analysts expect loan growth around 15-20 percent.
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Net interest income (NII), the difference between interest earned and interest expended, may increase 16.8 percent to Rs 2,213 crore from Rs 1,895.8 crore during the same period. Compared to NII growth of 24 percent in Q4FY15, June quarter NII may slow down.
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Rural Electrification Corporation (REC) may report a 14.6 percent growth (year-on-year) in profit at Rs 1,366 crore for the quarter ended March 2015, according to a CNBC-TV18 poll.
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Rural Electrification Corporation's (REC) third quarter profit is expected to rise 12.5 percent year-on-year to Rs 1,381 crore, according to the average of estimates of analysts polled by CNBC-TV18.
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The net interest income of Rural Electrification Corporation are expected to decrease by 0.9 percent Q-o-Q (up 29.2 percent Y-o-Y) to Rs 1654.5 crore.
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According to a CNBC-TV18 poll, profit after tax is likely to grow 18 percent year-on-year to Rs 1,128 crore and net interest income may rise 29 percent Y-o-Y to Rs 1,654 crore in three-month period ended September 2013.
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Motilal Oswal expects Rural Electrification Corporation (REC) to report a 10.5 percent growth quarter-on-quarter (rise of 17.7 percent year-on-year) in net profit at Rs 1064.2 crore.
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Motilal Oswal has come with its March`13 quarterly earning estimates for financial sector. The research firm expects reforms and monetary easing to continue, thereby growth is expected to revive gradually.
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"NIMs are very much sustainable, because we are growing at the rate of more than 30 percent. Our NIMs this quarter was 5.01 percent," said Rajeev Sharma, CMD, REC in an interview to CNBC-TV18.
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State-controlled Rural Electrification Corporation (REC) is set declare its results for the third quarter of financial year 2012-13 on Monday. Analysts on an average expect profit after tax of the company to grow by 24 percent year-on-year to Rs 955 crore in the quarter.
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Motilal Oswal has come with its December`12 quarterly earning estimates for banking sector. The research firm expects RBI to start cutting interest rates from 4QFY13.
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Motilal Oswal has come with its September quarterly earning estimates for Financials sector. According to the research firm, banking coverage universe is expected to report healthy PAT growth of 19% YoY, largely driven by 23% YoY profit growth from private sector banks.
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Rural Electrification Corporation is expected to report a growth of 9% year-on-year in its profit after tax of Rs 760 crore for the fourth quarter of FY12, according to CNBC-TV18 poll.
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Rural Electrification Corporation (REC) has reduced its guidance for full year growth in disbursements from 25% to 16%.
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Motilal Oswal has come with its December quarterly earning estimates for financial sector.
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REC's director finance, HD Khunteta, tells CNBC-TV18 that he expects interest rates to fall by February 2013 which will help improve margins.
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Rural Electrification Corporation has seen a bottomline growth of about 25% in the quarter with income jumping 23% to Rs 2306 crore. HD Khunteta, director-finance, tells CNBC-TV18 that the company had sanctioned Rs 65000 crore in the previous year. He expects this figure to go up 25% in the current fiscal.
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Rural Electrification Corporation (REC), is to announce its fourth quarter FY11 results. According to CNBC-TV18's estimates, the company's net interest income (NII) is seen up 26% at Rs 905 crore versus Rs 717 crore.
