REC shares jump nearly 8 pc after quarterly earnings announcement

Shares of REC jumped nearly 8 per cent on Wednesday a day after the state-owned company posted a 13.5 per cent rise in its profit at Rs 3,308.42 crore for the December quarter.

The shares of the company advanced 7.65 per cent to settle at Rs 468 apiece on the NSE.

On the BSE, REC shares climbed 7.63 per cent to close at Rs 467.50 per piece.

On the volume front, 11.44 lakh equity shares were traded on the BSE, while 3.52 crore shares exchanged hands on the NSE, during the day.

At the end of the trading session on Wednesday, the 30-share BSE Sensex zoomed 689.76 points or 0.98 per cent to settle at 71,060.31, while NSE Nifty gained 1.01 per cent to end at 21,453.95.

On Tuesday, REC Ltd said it posted a nearly 13.5 per cent rise in its consolidated net profit at Rs 3,308.42 crore for the December quarter, mainly on the back of higher revenues.

Its profit was Rs 2,915.33 crore in the quarter ended December 2022, the company said in a regulatory filing The total income of REC Ltd rose to Rs 12,071.54 crore in the quarter from Rs 9,795.47 crore in the same period a year ago, it added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)