Public infrastructure finance company REC recorded revenue from operations of ₹144.35 billion (~$1.5 billion) for the first quarter of the financial year (FY) 2027, down 3% year-over-year (YoY) from ₹148.17 billion (~$1.54 billion).

REC’s profit after tax declined 6% YoY to ₹41.93 billion (~$435 million) from ₹44.66 billion (~$463 million).

The company’s consolidated earnings per share came in at ₹15.92 (~$0.17), compared to ₹16.96 (~$0.18) in the corresponding quarter last year.

REC’s quarterly loan disbursements stood at ₹337.41 billion (~$3.45 billion), compared to ₹457.31 billion (~$4.74 billion) in the previous quarter.

Disbursements under the Revolving Bill Payment Facility accounted for 30% of the total loan disbursements in Q1 FY 2027, followed by conventional generation at 21%, renewable energy and distribution at 18% each, infrastructure and logistics at 6%, transmission at 5%, and other sectors at 2%.

REC’s outstanding loan book increased to ₹5.9 trillion (~$61.16 billion) as of June 30, 2026, from ₹5.84 trillion (~$60.53 billion) as of March 31, 2026.

Distribution accounted for 38% of the outstanding loan portfolio, followed by conventional generation at 25%, renewable energy at 13%, infrastructure and logistics at 10%, transmission at 8%, and the RBPF and other segments at 3% each.

Government-sector borrowers represented 84% of the portfolio, while private-sector borrowers accounted for the remaining 16%.

REC’s renewable energy loan portfolio stood at ₹785.96 billion (~$8.15 billion).

The company’s outstanding borrowings rose to ₹5.08 trillion (~$52.66 billion) as of June 30, 2026, from ₹5.06 trillion (~$52.45 billion) as of March 31, 2026.

Bonds accounted for 55% of the borrowing mix, followed by external commercial borrowings at 27%, loans from banks, financial institutions, and the National Small Savings Fund at 17%, and other sources at 1%. REC said nearly 99% of its foreign currency borrowings were hedged.

The boards of directors of the Power Finance Corporation and REC  approved the scheme of merger of the two public sector non-banking financial companies that lend to power and infrastructure projects. The companies said the merged entity would have an aggregate loan book of over ₹11 trillion (~$116.37 billion). The merger is intended to create a larger financing institution for the power sector and support financing across generation, transmission, distribution, renewable energy, and other infrastructure segments.

The company’s Board of Directors has declared a first interim dividend of ₹4.25 (~$0.04) per equity share with a face value of ₹10 (~$0.10) each.

In Q4 of FY 2026, REC recorded a total income of ₹145.83 billion (~$1.54 billion), down 5% from ₹153.48 billion (~$1.62 billion) in the corresponding quarter last year.