IREDA Reports a 26.8% Increase in Q3 Net Profit, Reaching Rs 425.37 Crore
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New Delhi, Jan 10 (NationPress) The Indian Renewable Energy Development Agency Ltd. (IREDA) has reported a 26.8% increase in its net profit, reaching Rs 425.37 crore for the October-December quarter of the current financial year, compared to Rs 335.54 crore in the same quarter of the previous year.
The leading pure-play green financing company in the country has achieved a revenue of Rs 1,698.99 crore during the third quarter, marking a 35.57% growth from Rs 1,253.20 crore in Q3 FY 2023-24.
In terms of loan sanctions, IREDA experienced a significant 45.01% increase, totaling Rs 13,226.81 crore compared to Rs 9,121.11 crore in the same quarter of the previous year. Loan disbursements reached Rs 7,448.96 crore, which is a 25.27% rise from Rs 5,946.45 crore.
The agency's total loan portfolio has grown to Rs 68,959.61 crore, representing a 36.34% increase from Rs 50,579.67 crore in Q3 FY 2023-24.
Moreover, IREDA's net worth has strengthened to Rs 9,842.07 crore, showing a 20.99% growth from Rs 8,134.56 crore in Q3 FY 2023-24.
The earnings per share (EPS) improved to Rs 1.58, reflecting a 15.03% increase from Rs 1.38 in the same quarter of the previous fiscal year.
Commenting on these results, IREDA CMD Pradip Kumar Das stated, "Our exceptional performance in Q3 FY 2024-25 underscores IREDA's unwavering commitment to propelling India’s renewable energy transition. The substantial growth in loan sanctions, disbursements, and the expansion of our loan portfolio emphasizes our crucial role in financing sustainable energy initiatives. With a strong financial foundation and impressive profitability, as demonstrated by our PAT, IREDA is well-positioned to advance the nation’s green energy objectives."
"IREDA has set a new benchmark by publishing its Quarterly Audited Financial Results in just nine days. This achievement makes IREDA the only corporation to release Audited Financial Results within this timeframe," as stated by IREDA.
