IREDA Net Profit Jumps 27% to Rs 425 cr in Q3

New Delhi, Dec 10 (PTI) State-owned Indian Renewable Energy Development Agency Ltd (IREDA) has posted nearly 27 per cent growth in its net profit at Rs 425.37 crore in December quarter, mainly on the back of higher revenues.

Revenue from operations grew 35.57 per cent to Rs 1,698.99 crore in the latest December quarter compared to Rs 1,253.20 crore in the third quarter of FY24, the company said in a statement on Thursday.

Profit After Tax (PAT) or net profit recorded a 26.77 per cent rise in the reporting quarter to Rs 425.37 crore from Rs 335.54 crore in Q3 FY24, it said.

The company also stated that its net worth strengthened to Rs 9,842.07 crore, registering a 20.99 per cent year-on-year growth from Rs 8,134.56 crore.

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.

Pradip Kumar Das, CMD, IREDA, 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 highlight our pivotal role in financing sustainable energy projects," he said, adding that IREDA remains well-poised to drive the nation's green energy ambitions forward.