State-run Indian Renewable Energy Development Agency (IREDA) on Friday reported a more than 30 per cent year-on-year growth in its net profit at ₹383.69 crore during the April-June quarter in the current financial year.
The non-banking financial company’s (NBFC) total revenue rose by 32 per cent to ₹1,510.70 crore in Q1 FY25, it said in a filing on BSE.
The company’s networth, as of June 30, 2024, has reached ₹9,110.19 crore — up from ₹6,290.40 crore, reflecting a year-on-year growth of 44.83 per cent.
IREDA has successfully reduced its Net Non-Performing Assets (NPA) to 0.95 per cent in the first quarter of FY25 from 1.61 per cent in the same quarter of FY24.
“As the largest pure-play green financing NBFC in the country, IREDA achieved a new industry standard by publishing its Audited Financial Results within only 12 days. This milestone also marks IREDA as the first Central Public Sector Enterprise (CPSE) to promptly declare results and achieve the fastest publication of Audited Results in the Banking and NBFC space,” it added.
IREDA CMD PK Das attributed the company’s growth to unwavering trust and support of stakeholders.
The Navratna company’s loan sanction zoomed 386.68 per cent to ₹9,210.22 crore in Q1 FY25 against ₹1,892.45 crore in Q1 FY24. Loan disbursements rose to ₹5,325.88 crore ( ₹3,173.27 crore).
IREDA’s loan book stood at ₹63,206.78 crore in Q1 FY25 compared to ₹47,206.66 crore, an annual growth of 33.89 per cent.