IREDA Posts Record Rs 1,252 cr PAT in FY24, Q4 Profit at Rs 337 cr
By Rediff Money Desk, NEWDELHI Apr 19, 2024 22:09
IREDA's net profit surged 33% to Rs 337.37 crore in Q4 FY24, while its annual PAT hit a record Rs 1,252.23 crore, driven by higher income and loan growth.
![IREDA Posts Record Rs 1,252 cr PAT in FY24, Q4 Profit at Rs 337 cr](https://im.rediff.com/money/2023/dec/17ireda.jpg)
Photograph: Kind courtesy IREDA
New Delhi, Apr 19 (PTI) State-owned IREDA on Friday posted a 33 per cent rise in its net profit to Rs 337.37 crore for the quarter ended March 2024, aided by higher income.
It had clocked Rs 253.61 crore net profit in the January-March quarter of FY23, the company said in an exchange filing.
The company's total income surged to Rs 1,391.63 crore in the fourth quarter of FY24 from Rs 1,036.31 crore a year ago.
Its expenses were Rs 911.96 crore in the period under review against Rs 747.93 crore in the year-ago period.
In a separate statement, the company said it has achieved an all-time high annual profit after tax (PAT) of Rs 1,252.23 crore, a growth of 44.83 per cent over Rs 864.62 crore in 2022-23.
As of March 31, the company's loan book grew 26.81 per cent to Rs 59,698.11 crore from Rs 47,052.52 crore as of March 31, 2023.
The loan sanction stood at Rs 37,353.68 crore and disbursements at Rs 25,089.04 crore in FY24, registering an increase of 14.63 per cent and 15.94 per cent, respectively.
"This marks the highest annual loan disbursement and sanction in the company's history," IREDA said.
The net worth of the company increased 44.22 per cent to Rs 8,559.43 crore as of March 31, 2024, against Rs 5,935.17 crore a year ago.
Indian Renewable Energy Development Agency Ltd, under the Ministry of New and Renewable Energy, is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy and energy efficiency/conservation.
It had clocked Rs 253.61 crore net profit in the January-March quarter of FY23, the company said in an exchange filing.
The company's total income surged to Rs 1,391.63 crore in the fourth quarter of FY24 from Rs 1,036.31 crore a year ago.
Its expenses were Rs 911.96 crore in the period under review against Rs 747.93 crore in the year-ago period.
In a separate statement, the company said it has achieved an all-time high annual profit after tax (PAT) of Rs 1,252.23 crore, a growth of 44.83 per cent over Rs 864.62 crore in 2022-23.
As of March 31, the company's loan book grew 26.81 per cent to Rs 59,698.11 crore from Rs 47,052.52 crore as of March 31, 2023.
The loan sanction stood at Rs 37,353.68 crore and disbursements at Rs 25,089.04 crore in FY24, registering an increase of 14.63 per cent and 15.94 per cent, respectively.
"This marks the highest annual loan disbursement and sanction in the company's history," IREDA said.
The net worth of the company increased 44.22 per cent to Rs 8,559.43 crore as of March 31, 2024, against Rs 5,935.17 crore a year ago.
Indian Renewable Energy Development Agency Ltd, under the Ministry of New and Renewable Energy, is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy and energy efficiency/conservation.
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- GTL Infrastructure
- 2.93 ( -4.87)
- 226206286
- IFL Enterprises
- 1.30 (+ 4.84)
- 81461564
- Vodafone Idea L
- 16.79 (+ 0.66)
- 67447398
- NCL Research
- 0.95 ( -4.04)
- 31996628
- Franklin Industries
- 3.73 (+ 3.32)
- 21511209
MORE NEWS
![Navi Mumbai...](https://im.rediff.com/80-80/money/2021/jun/10navi-mumbai-airport7.jpg)
Navi Mumbai Airport ILS Signal Testing Begins
The Airports Authority of India (AAI) has begun ILS signal testing at the...
![Air India VRS for...](https://im.rediff.com/80-80/money/2020/sep/09tata-vistara-3.jpg)
Air India VRS for Non-Flying Staff Ahead of...
Air India has announced a voluntary retirement scheme (VRS) and voluntary separation...
Fisher Groups Oppose WTO Fisheries Subsidy Talks
Small-scale fisher groups from India, Indonesia, and Bangladesh demand WTO keep...