IREDA Reports 30% Surge in Quarterly Profit Driven by Revenue Growth
India’s Indian Renewable Energy Development Agency (IREDA) announced a significant 30.25% increase in its net profit for the April-June quarter of the current fiscal year (FY25). The net profit rose to Rs 383.69 crore, compared to Rs 294.58 crore in the corresponding quarter of FY24.
The revenue from operations grew to Rs 1,501.71 crore from Rs 1,143.50 crore in the same period last year. Loan sanctions also increased from Rs 1,892.45 crore in Q1FY24 to Rs 9,210.22 crore in Q1FY25.
IREDA’s asset quality improved, with net non-performing assets reducing from 1.61% in Q1FY24 to 0.95% in Q1FY25.
The company emphasized its commitment to timely reporting by publishing its audited financial results within 12 days, making it the first central public sector enterprise to achieve this milestone.
IREDA’s net worth as of June 2024 stood at Rs 9,110.19 crore, a 44.83% increase from Rs 6,290.40 crore in the same period a year earlier.
Commenting on the performance, Pradip Kumar Das, Chairman and MD of IREDA, said, “IREDA’s unwavering focus on promoting renewable energy solutions in India highlights a promising outlook for our investors and stakeholders.”
