Adani Enterp. 2622.95↑296.85(12.76%)
Adani Ports 748.50↑18.80(2.58%)
Apollo Hospitals 4592.95↓-12.35(-0.27%)
Asian Paints 3116.00↑31.10(1.01%)
Axis Bank 919.80↑2.25(0.25%)
B P C L 369.00↑7.40(2.05%)
Bajaj Auto 4531.45↑8.20(0.18%)
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Bajaj Finserv 1441.90↑28.90(2.05%)
Bharti Airtel 801.35↓-0.50(-0.06%)
Britannia Inds. 4500.90↑1.95(0.04%)
Cipla 930.00↑5.05(0.55%)
Coal India 238.85↑0.15(0.06%)
Divi's Lab. 3397.25↑132.25(4.05%)
Dr Reddy's Labs 4459.20↑1.55(0.03%)
Eicher Motors 3579.00↑33.55(0.95%)
Grasim Inds 1699.35↓-19.00(-1.11%)
H D F C 2708.95↑4.20(0.16%)
HCL Technologies 1129.75↑9.90(0.88%)
HDFC Bank 1641.00↓-0.05(0.00%)
HDFC Life Insur. 563.75↓-3.25(-0.57%)
Hero Motocorp 2693.80↑1.65(0.06%)
Hind. Unilever 2638.80↑0.70(0.03%)
Hindalco Inds. 412.85↑5.15(1.26%)
ICICI Bank 954.95↑4.60(0.48%)
IndusInd Bank 1260.60↑14.45(1.16%)
Infosys 1310.00↑17.20(1.33%)
ITC 429.70↑4.95(1.17%)
JSW Steel 709.95↑5.35(0.76%)
Kotak Mah. Bank 1919.85↓-20.35(-1.05%)
Larsen & Toubro 2204.60↓-12.00(-0.54%)
M & M 1266.65↑1.10(0.09%)
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Nestle India 21508.00↑13.20(0.06%)
NTPC 174.95↑0.85(0.49%)
O N G C 165.25↓-0.35(-0.21%)
Power Grid Corpn 235.00↑0.65(0.28%)
Reliance Industr 2463.25↑8.25(0.34%)
SBI Life Insuran 1162.80↑12.00(1.04%)
St Bk of India 579.20↑2.05(0.36%)
Sun Pharma.Inds. 940.25↑2.80(0.30%)
Tata Consumer 770.05↑3.95(0.52%)
Tata Motors 527.50↑5.00(0.96%)
Tata Steel 105.75↑0.75(0.71%)
TCS 3312.10↑13.40(0.41%)
Tech Mahindra 1104.40↓-0.05(0.00%)
Titan Company 2706.00↓-6.55(-0.24%)
UltraTech Cem. 7691.55↓-24.10(-0.31%)
UPL 677.10↑6.70(1.00%)
Wipro 399.40↑3.65(0.92%)

Green energy to hold a third of REC's loan portfolio by 2030: CMD

The management also said its growing exposure to green energy sector, non-power sectors, such as infrastructure, logistics and irrigation aided its growth plans

Shreya Jai New Delhi

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REC’s management said the improvement in credit quality and reduction in non-profitable assets led to growth in profits

2 min read Last Updated : May 18 2023 | 8:32 PM IST

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REC Limited, one of leading power sector lenders under the aegis of the Ministry of Power, is looking to decarbonise its lending portfolio with more exposure to green energy sectors. The non-banking financial company (NBFC), is looking to increase the share of green energy sectors in its loan portfolio to 30 per cent by 2030, from 6.8 per cent as of now, said Vivek Kumar Dewangan, chairman and managing director, REC Ltd, said.

REC on Wednesday reported a record high growth in its net profit during FY23. The company posted a profit of Rs 11,055 crore during the 2022-23 financial year.

REC’s management said the improvement in credit quality and reduction in non-profitable assets led to growth in profits. The company’s net worth has also growth by 13 per cent year-on-year to Rs 57,680 crore.