REC Q2 results: Net profit grows 7% to Rs 4,037 cr on higher income

State-owned REC Ltd on Saturday posted around 7 per cent rise in its consolidated net profit to Rs 4,037.72 crore for the September 2024 quarter, mainly on the back of higher income.Its consolidated net profit stood at Rs 3,789.90 crore in the quarter ended September 2023, a BSE filing showed.The total income rose to Rs 13,706.31 crore in the quarter under review from Rs 11,684.89 crore a year ago.The board also approved the second interim dividend of Rs 4 per equity share of Rs 10 each for 2024-25. The record date for the interim dividend is November 18.The interim dividend will be paid on or before November 22, 2024.In a separate statement, the company said, "Owing to growth in all the verticals, resetting of interest rates on loan assets and effective management of finance cost, REC is able to maintain its spreads and NIMs (Net Interest Margin) resulting in H1 PAT of Rs 7,448 crore".The earnings per share (EPS) for the period ended September 30, 2024, accelerated to Rs 2