Indian Renewable Energy Development Agency Ltd. (IREDA) has announced a 26.8% jump in net profit to 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 country’s largest pure-play green financing company recorded revenue of Rs 1,698.99 crore during the third quarter, representing a 35.57% increase compared to Rs 1,253.20 crore in Q3 FY 2023-24.
IREDA’s loan sanctions for the third quarter surged by 45.01% 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 rose by 25.27% to Rs 7,448.96 crore, up from Rs 5,946.45 crore.
The total loan book expanded to Rs 68,959.61 crore, reflecting a 36.34% increase compared to Rs 50,579.67 crore in Q3 FY 2023-24.
The company’s net worth strengthened to Rs 9,842.07 crore, registering 20.99% 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% 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.”
In a statement, IREDA highlighted another milestone: “IREDA has set industry standards by publishing its Quarterly Audited Financial Results within just nine days, becoming the only corporate to achieve this feat.”
(Inputs from IANS)