New Delhi: REC Ltd, a government-owned company, announced on Monday that it approved loans worth Rs 1,12,747 crore in the first quarter of FY25, showing a 24.17 percent increase from the previous year.
According to a filing with the exchange, the company approved a loan of Rs 90,797 crore in the previous year. Loan disbursals increased by 27.89% to reach Rs 43,652 crore during the time frame examined.
In the June quarter of FY25, the amount sanctioned for renewable energy projects was Rs 39,655 crore, showing a 58.72 percent increase from the previous year. There was an increase of over double in loan disbursements, rising to Rs 5,351 crore from Rs 1,534 crore.
REC, a non-banking financial company (NBFC) under the Ministry of Power, specializes in providing financing for the power sector in India.
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