New Delhi, Oct 14 (NationPress) The Indian Renewable Energy Development Agency Limited (IREDA), a Navratna public sector enterprise, declared a remarkable 41 percent increase in its net profit, reaching Rs 549 crore for the July-September quarter of the ongoing financial year (Q2 FY26). This marks a significant rise from Rs 388 crore reported during the same quarter last year (Q2 FY25).

As the largest dedicated green financing NBFC in the country, IREDA also reported a substantial 26 percent growth in its revenue from operations, totaling Rs 2,057 crore compared to Rs 1,630 crore in the previous financial year's equivalent quarter, as indicated in its filing to the stock exchange.

In terms of loan sanctions, IREDA saw an impressive surge of 145 percent, amounting to Rs 21,408 crore, in contrast to Rs 8,724 crore sanctioned during the same quarter last year. Furthermore, loan disbursements increased by 81 percent, reaching Rs 8,062 crore compared to Rs 4,462 crore.

Currently, IREDA's loan book has expanded to Rs 84,477 crore, reflecting a 31 percent increase from Rs 64,564 crore at the conclusion of the previous financial year's second quarter.

Additionally, the net worth of this government-owned NBFC has shown a significant 38 percent rise, now at Rs 12,920 crore compared to Rs 9,336 crore from the same period last year.

The company stated, “IREDA has experienced substantial year-on-year growth across fundamental financial metrics. The expansion of our loan book, increasing net worth, and ongoing profitability emphasize our strategic commitment to bolstering India's renewable energy objectives.”

Union Minister for New and Renewable Energy, Pralhad Joshi, acknowledged that India’s transition to clean energy is gaining robust momentum, largely attributed to IREDA’s commendable Q2 FY26 performance.

“IREDA is championing sustainable development and self-sufficiency in the renewable energy domain, illuminating India’s path towards a greener future,” the minister remarked.

On the performance for Q2, Pradip Kumar Das, Chairman & Managing Director of IREDA, commented, “Our consistent progress across quarters highlights our strategic focus and execution excellence. The growth of our loan book and solid financials reflect the trust instilled in us by stakeholders and underscore our pivotal role in India's clean energy landscape.”