REC Loan Sanctions Surge 24% in Q1 FY25, Renewables Get Rs 40k Cr
Jul 01, 2024 12:24
REC Ltd's loan sanctions grew 24.17% to Rs 1.12 lakh crore in Q1 FY25, with Rs 39,655 crore allocated to renewable energy projects.
New Delhi, Jul 1 (PTI) 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 doubled to Rs 5,351 crore from Rs 1,534 crore.
REC, under Ministry of Power, is a non-banking financial company (NBFC) focusing on power sector financing in India.
Home »
Market News » REC Loan Sanctions Surge 24% in Q1 FY25, Renewables Get Rs 40k Cr
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
MORE NEWS
Unilever: India Growth & GST Impact
Unilever sees huge opportunities in India due to high GDP growth and GST cuts. HUL...
Trai Recommends 6 GHz, E, V Band Allocation
Trai suggests administrative allocation of 6 GHz, E, and V bands for telecom backhaul....
TotalEnergies Sells Stake in Adani Green Energy
TotalEnergies sells 1.74% stake in Adani Green Energy for Rs 2,778 cr. Stake reduced to...
TCS Acquires Coastal Cloud for $700 Million
TCS acquires Coastal Cloud for USD 700 million, strengthening its Salesforce and AI...
JSW Paints Acquires AkzoNobel India Stake
JSW Paints completes acquisition of majority stake in AkzoNobel India, becoming the...
Park Medi World IPO Subscribed 52% on Day 1
Park Medi World''s IPO received 52% subscription on day 1. The Rs 920-crore IPO closes...
Dasnac Invests Rs 2,000 Cr in Noida Luxury Housing
Dasnac to invest Rs 2,000 crore in a luxury housing project, Dasnac Westminster, in...
Nephrocare IPO Subscribed 12% on Day 1
Nephrocare Health Services IPO received 12% subscription on day 1. IPO details, price...
Wakefit IPO Subscribed Over 2 Times
Wakefit''s Rs 1,289-cr IPO was subscribed over 2 times on the final day. Details on...
IAN Group to Deploy USD 100M Alpha Fund by 2027
IAN Group to deploy its USD 100 million IAN Alpha Fund in early-stage startups by 2027....
Read More »