REC Ltd, the state-run power-sector financier formerly known as Rural Electrification Corporation, on Monday reported a 21.2 per cent year-on-year decline in consolidated net profit for the July-September quarter (Q2 FY27), to ₹3,477.73 crore (yaani about ₹34.78 billion), against ₹4,414.93 crore in the same quarter last year. Profit also fell 17.1 per cent from ₹4,192.76 crore in the June quarter.

Source: TradingView News (Moody's)

Revenue from operations slipped 1 per cent to ₹15,000.40 crore, from ₹15,152.67 crore a year earlier, and total income eased to ₹15,010.43 crore. Net interest income — the difference between interest earned and interest paid — fell 9 per cent to ₹5,478 crore, from ₹6,022 crore, while consolidated total expenses rose 10.46 per cent to ₹10,619.29 crore.

Source: Upstox

₹3,478 croreConsolidated Q2 net profit, down 21.2% YoY
₹5,478 croreNet interest income, down 9% YoY
₹6.17 lakh croreLoan book as of 30 September 2026
₹3.50 per shareSecond interim dividend declared for FY27

The fall in profit came even as the loan book kept growing. REC's loan portfolio reached ₹6.17 lakh crore (yaani about ₹6.17 trillion) as of 30 September, up 5 per cent from the previous quarter, and its renewable energy portfolio grew 27 per cent year on year to ₹86,660 crore. Interest income on loan assets rose marginally, by 0.5 per cent, to ₹14,669.49 crore, while finance costs rose about 4.3 per cent to around ₹9,522 crore.

On a standalone basis, net profit was ₹3,391.18 crore, against ₹4,425.86 crore in the year-ago quarter, according to the company's board-meeting outcome filed with the stock exchanges.

The board declared a second interim dividend of ₹3.50 per equity share of face value ₹10 for FY27. The record date is Friday, 30 October 2026, and the dividend will be paid on or before 21 November 2026, the company said.