India's REC falls after quarterly profit, revenue drop

REC

29/04/2026 08:31

** Shares of India's REC RECM.NS fall as much as 4.7%, last down 3.19% to 364.15 rupees,

** Co's Q4 profit dropped 21.7% y/y to 33.75 billion Indian rupees ($356.05 million); revenue dropped 5% YoY

** Macquarie ("Outperform"; TP:455 rupees) says quarterly profit missed estimates due to higher operating expenses, sharp rise in credit costs; loan growth remained subdued at ~3% y/y

** UBS ("Buy"; TP:490 rupees) says loan growth and disbursements were weak in quarter, while higher provisions lifted credit costs and weighed on earnings

** RECM rated "buy" on average by 14 analysts, median Pt at 455 rupees -- data compiled by LSEG

** YTD stock down 5.33%

($1 = 94.7900 Indian rupees)

 (Reporting by Surbhi Misra in Bengaluru)

 ((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))