IREDA Sees 37% Profit Surge Amid Renewable Energy Push

State-owned IREDA reports a significant 37% increase in net profit for December quarter, driven by a rise in revenue and loan disbursements. The company's robust financial performance underlines its role in India's renewable energy transition, with impressive growth in profit margins and net worth.

State-owned IREDA reported a notable 37% year-on-year increase in standalone net profit, reaching Rs 585 crore during the December quarter. This growth was driven primarily by a sharp rise in revenues.

In the October-December period of the previous financial year, IREDA had recorded a net profit of Rs 425 crore, as highlighted in their recent exchange filing.

The company saw a substantial 38% surge in revenue from operations, amounting to Rs 2,140 crore compared to Rs 1,699 crore in the same period last year. IREDA's CMD, Pradip Kumar Das, emphasized that their strong financial performance signifies their dedication to accelerating India's renewable energy transition. With a 28% rise in the loan book for Q3 to Rs 87,975 crore, and a 32% increase in disbursements to Rs 9,860 crore, the company's net worth also grew by 38% to Rs 13,537 crore.

(With inputs from agencies.)