Shares of REC Ltd. are trading with losses of up to 4% on Thursday after the state-run power financier said that it has disbursed loans amounting to ₹47,303 crore in Q2, which is higher by 13.71%, compared to ₹41,598 crore disbursed in the same period last year.

Of this, renewable energy loans surged 37.35% year-on-year, aggregating to ₹5,946 crore.

For the half year ended September 30, 2024, REC has disbursed loans worth ₹90,955 crore, up 20.10% on-year. The quantum of renewable energy loans grew 92.68% on-year to ₹11,297 crore.

REC’s net profit had increased by 14.7% from last year to ₹3,442.5 crore during the June quarter.

The state-run company’s core income or Net Interest Income increased by 31.5% from last year to ₹4,479.2 crore.

REC made provisions worth ₹472.6 crore during the quarter, which is in contrast with a provision write-back of ₹319.5 crore it had during the same quarter last year.

Gross Non-Performing Assets (GNPA) ratio improved to 2.61%, from 2.71% in the previous quarter, while the Net Non-Performing Assets (NNPA) ratio decreased to 0.82%, compared to 0.86% in the last quarter.

Shares of REC are currently trading 3.30% lower at ₹538.45. The stock has gained nearly 27% so far in 2024.