REC Q3 preview: Standalone profit likely to climb 19.2% on-year
Besides, NIMs are expected to edge higher by a marginal 3.5 per cent against 3.4 per cent during the September-ended quarter.
REC Ltd. is set to announce its Q3 earnings on January 23 (Tuesday). Equirus estimates the company to post a standalone profit of Rs 3,580 crore, up 19.2 per cent on-year as against Rs 3,004.9 crore logged in the same quarter last year.
On Friday (January 19), the state financier was up over 5 per cent at Rs 447.6 in the afternoon trade, while at the day’s high, it notched levels of Rs 453.35 apiece. The institution also estimates that the net interest income (NII) will inch higher by 14.7 per cent year-on-year (YoY) to Rs 4,094 crore versus Rs 3,570.7 crore.
Besides, NIMs are expected to edge higher by a marginal 3.5 per cent against 3.4 per cent during the September-ended quarter.
Additionally, it said NPA resolutions during the December-ended quarter would augur well for the company’s credit costs.
The company in the September quarter posted its highest-ever quarterly net profit of Rs 3,773 crore, up around 38 per cent compared on a year-on-year (YoY) basis.
REC Ltd. is a large-cap state-run company that is engaged in other financial services and activities, including credit granting.
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