The Board of REC at its meeting held on 17 June 2020 has approved the incorporation of two Project Specific Special Purpose Vehicles (SPVs), as Wholly Owned Subsidiary Companies of REC Transmission Projects Company for development of intra-state transmission work in Madhya Pradesh, through Tariff Based Competitive Bidding, allocated by Government of Madhya Pradesh.

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The Board of REC at its meeting held on 17 June 2020 has appointed Vijay Kumar, Chief General Manager (Finance), as the Chief RiskOfficer (CRO) of the Company, in place of Daljeet Singh Khatri, Chief General Manager (Finance & Accounts).

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Net profit of REC declined 62.16% to Rs 473.99 crore in the quarter ended March 2020 as against Rs 1252.66 crore during the previous quarter ended March 2019. Sales rose 17.92% to Rs 7841.48 crore in the quarter ended March 2020 as against Rs 6649.65 crore during the previous quarter ended March 2019.

For the full year,net profit declined 13.40% to Rs 4972.27 crore in the year ended March 2020 as against Rs 5741.38 crore during the previous year ended March 2019. Sales rose 17.84% to Rs 29929.78 crore in the year ended March 2020 as against Rs 25399.02 crore during the previous year ended March 2019.

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Net profit of REC declined 65.31% to Rs 435.71 crore in the quarter ended March 2020 as against Rs 1256.13 crore during the previous quarter ended March 2019. Sales rose 17.50% to Rs 7839.40 crore in the quarter ended March 2020 as against Rs 6671.81 crore during the previous quarter ended March 2019.

For the full year,net profit declined 15.23% to Rs 4886.16 crore in the year ended March 2020 as against Rs 5763.72 crore during the previous year ended March 2019. Sales rose 19.35% to Rs 29791.06 crore in the year ended March 2020 as against Rs 24961.20 crore during the previous year ended March 2019.

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