REC Q3 profit jumps 28% to Rs 1754 cr on other income boost

Moneycontrol Bureau

State-run infrastructure finance company Rural Electrification Corporation has reported a whopping 28 percent growth in third quarter profit at Rs 1,754 crore on year-on-year basis, driven by other income.

However, net interest income (calculated), the difference between interest earned and interest expended, fell 3.5 percent to Rs 2,200 crore during the quarter compared with Rs 2,281 crore in same quarter last year.

Other income in Q3 increased sharply to Rs 311.4 crore from Rs 19.5 crore on yearly basis.REC has fixed February 28 as record date for payment of interim dividend.