IREDA Q3 Results: Renewable energy firm records 26.8% jump in net profit at Rs 425.37 crore
The country's largest pure-play green financing Company has recorded a revenue of Rs 1,698.99 crore during the third quarter which represents a 35.57 per cent increase compared to Rs 1,253.20 crore in Q3 FY 2023-24.
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Indian Renewable Energy Development Agency Ltd. (IREDA) has announced a 26.8 per cent jump in net profit to Rs 425.37 crore for the October-December quarter of the current financial year from Rs 335.54 crore in the same quarter of the previous year.
The country's largest pure-play green financing Company has recorded a revenue of Rs 1,698.99 crore during the third quarter which represents a 35.57 per cent increase compared to Rs 1,253.20 crore in Q3 FY 2023-24.
IREDA's loan sanctions for the third quarter recorded a 45.01 per cent surge to Rs 13,226.81 crore compared to Rs 9,121.11 crore in the same quarter of the previous year while loan disbursements for the quarter reached Rs 7,448.96 crore, up by 25.27 per cent from Rs 5,946.45 crore.
IREDA's total loan book has expanded to a robust Rs 68,959.61 crore, showing a 36.34 per cent increase compared to Rs 50,579.67 crore in Q3 FY 2023-24.
The company's net worth has strengthened to Rs 9,842.07 crore, registering a 20.99 per cent growth from Rs 8,134.56 crore in Q3 FY 2023-24.
Its earnings per share (EPS) improved to Rs 1.58, growing by 15.03 per cent from Rs 1.38 in the same quarter of the previous fiscal.
Commenting on the results, IREDA CMD Pradip Kumar Das said, "Our outstanding performance in Q3 FY 2024-25 reflects IREDA's steadfast commitment to accelerating India's renewable energy transition. The significant growth in loan sanctions, disbursements, and the expansion of our loan book highlights our pivotal role in financing sustainable energy projects. With a robust financial position and strong profitability as evidenced by our PAT, IREDA remains well-poised to drive the nation's green energy ambitions forward."
"IREDA has once again set industry standards by publishing its Quarterly Audited Financial Results within just nine days. This milestone positions IREDA as the only corporate to publish Audited Financial Results within nine days," according to an IREDA statement.
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