Shares of REC soared by 8% following the announcement of its Q4 earnings, reaching a high of Rs 500.50 compared to the previous close of Rs 463.20 on the BSE. Additionally, the company’s market capitalisation increased to Rs 1.31 lakh crore. REC reported a 33% increase in net profit for the quarter ending March 2024, reaching Rs 4,079 crore compared to Rs 3,065 crore in the previous year. Furthermore, the board announced a final dividend of Rs 5 per share. Total revenue for the quarter rose by 24% to Rs 12,677 crore from Rs 10,243 crore year-on-year. Earnings per share of the PSU rose to Rs 15.36 in Q4 compared to Rs 11.51 in the same quarter of FY23. With a turnover of Rs 113.56 crore on the BSE, a total of 23.38 lakh shares of the company changed hands.
The firm also declared a final dividend of Rs 5 per share for the financial year 2023-24, subject to shareholder approval at the Annual General Meeting. This adds to the Interim Dividend(s) of Rs 11 per equity share declared during the financial year 2023-24, bringing the total dividend for the fiscal year to Rs 61 per equity share.
