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.
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.