REC Limited Reports Record Growth in 55th AGM, Eyes Expansion in Renewable Energy Sector

 https://youtube.com/shorts/3nA2EMOWHWg?si=jvvHGGyv5s1GvuQX


  • REC Limited Reports Record Growth in 55th AGM, Eyes Expansion in Renewable Energy Sector

  • REC Limited achieved a 34% growth in loans sanctioned, reaching ₹3.58 lakh crore in 2023-24, and set ambitious goals for expanding its renewable energy loan portfolio to 30% of a projected ₹10 lakh crore by 2030.
  • The meeting highlighted significant achievements, including a 34% increase in loans sanctioned, reaching ₹3.58 lakh crore in 2023-24, and record disbursements of ₹1.61 lakh crore, a 67% year-on-year growth. 
  • Total income rose by 20% to ₹47,214 crore, while net profit increased by 27% to ₹14,019 crore. 
  • The loan book grew by 17% to ₹5.09 lakh crore, with a Capital Adequacy Ratio of 25.82%.
  • REC’s focus on India’s energy transition, managing ₹38,971 crore in renewable energy loans, with a target to increase this to 30% of a projected ₹10 lakh crore loan book by 2030.

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