REC quarterly profit up to Rs 622.87 crore

Rural Electrification Corp posted an increase in net profit at Rs 622.87 crore for the three months to September from Rs 618.21 crore in the same period last year.

REC’s total income in the September quarter jumped to Rs 2,532.13 crore compared to Rs 2,026.66 crore in the same period last year. Interest and finance expenses in the latest quarter jumped to Rs 1,564.87 crore from Rs 1,208.07 crore in the comparable period. This included a one-time upfront fee of over Rs 34 crore paid in relation to raising of external commercial syndicated loan, according to a regulatory filing.