Rural Electrification Corporation posted net profit of INR 769.51 crore for the three months ended December.

REC in a filing to the Bombay Stock Exchange said that it provides loans to the power sector had net profit of INR 664.09 crore in the same period a year ago.

In the third quarter of the financial year 2011-12, the company's total income rose to INR 2,699.12 crore from INR 2,175.41 crore in the year ago period.

The filling added that "Due to change in accounting policy, the profit before tax for the quarter and nine months ended December 31st 2011 is higher by INR 197.65 crore. The amount remaining to be amortised in Foreign Currency Monetary Item Translation Difference Account is INR 197.65 crore.”

The filing noted that "This interim dividend on equity shares, subject to the provisions of Section 206A of the Companies Act, 1956, will be paid on February 7th 2012.”

(Sourced from BS)