REC loan sanctions grow 24% to Rs 1.12 lakh crore in Q1; Rs 40K cr for renewables

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PTILast Updated: Jul 04, 2024, 10:57:00 AM IST

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REC Ltd sanctioned Rs 1,12,747 crore in loans during April-June FY25, reflecting a 24.17% growth from the previous year. The company's focus on renewable energy projects and power sector financing in India remained strong, with significant loan disbursements in the period.

State-owned REC Ltd on Monday said it sanctioned Rs 1,12,747 crore worth of loans during April-June FY25, posting a year-on-year growth of 24.17 per cent. It had sanctioned Rs 90,797 crore as loan during the year-ago period, the company said in an exchange filing.

Loan disbursements rose 27.89 per cent to Rs 43,652 crore in the period under review.

During June quarter FY25, Rs 39,655 crore was sanctioned for renewable energy projects, up 58.72 per cent from the year-ago period. Loan disbursements more than tripled to Rs 5,351 crore from Rs 1,534 crore, posting a year-on-year growth of 248 per cent.

REC, under Ministry of Power, is a non-banking financial company (NBFC) focusing on power sector financing in India.

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( Originally published on Jul 01, 2024 )

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REC loan sanctions grow 24% to Rs 1.12 lakh crore in Q1; Rs 40K cr for renewables

REC Ltd sanctioned Rs 1,12,747 crore in loans during April-June FY25, reflecting a 24.17% growth from the previous year. The company's focus on renewable energy projects and power sector financing in India remained strong, with significant loan disbursements in the period.

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