IREDA net profit falls 36 pc to ₹247 cr in June quarter
The company had posted a net profit of ₹ 384 crore in the quarter ended on June 30, 2024, a BSE filing showed.
However, the revenue from operations improved to ₹ 1,947 crore during the quarter against ₹ 1,510 crore in the year-ago period.
The total expense rose to ₹ 1,655 crore in the quarter from ₹ 1,034.96 crore in the same period a year ago.
The financing cost climbed to ₹ 1,218 crore compared to ₹ 975 crore, while the impairment on financial instruments was ₹ 363 crore against the gain of ₹ 30 crore a year ago.
The net worth of the company appreciated to ₹ 12,042 crore from ₹ 9,110 crore in FY25.
Similarly, its loan book increased to ₹ 79,941 crore compared to ₹ 63,207 crore a year ago.
The company's loan sanctions grew to ₹ 11,740 crore against ₹ 9,136 crore in the corresponding period a year ago, while the loan disbursements rose to ₹ 6,980 crore from ₹ 5,325 crore.
"Our expanding loan book and net worth reflect our strategic focus and robust operations. IREDA supports India's renewable energy journey with a growing portfolio and strong performance, committed to a sustainable future through innovation and responsible finance," Pradip Kumar Das, Chairman and Managing Director of IREDA, said.
The company's primary business is to provide finance for Renewable Energy & Energy Efficiency projects and related activities carried out in India.
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