State-owned PSU, IREDA reported a 41% year-on-year rise in standalone net profit to Rs 549 crore for the second quarter of this fiscal, ending September 30, driven by higher income. The company had posted a net profit of Rs 388 crore in the same quarter last year (July–September period of FY2024-25).
IREDA’s revenue rises 26% in Q2; loan book grows 31%
During the second quarter, the company’s revenues from operations climbed by 26% to Rs 2,057 crore from Rs 1,630 crore in the three-month period a year ago. The loan book grew 31% to Rs 84,477 crore against Rs 64,564 crore in Q2 FY25.
Loan sanctions rose by 145% to Rs 21,408 crore compared to Rs 8,724 crore in the year-ago period. While disbursements were 81% higher at Rs 8,062 crore from Rs 4,462 crore in Q2FY25.
As of September, the company’s net worth was Rs 12,920 crore, up 38% over Rs 9,336 crore a year ago.
IREDA CMD says growth reflects strong execution and clean energy focus
“IREDA’s consistent growth across quarters underscores our strategic focus and execution excellence. Expansion in loan book and strong financials…highlight our role as a key enabler in India’s clean energy ecosystem,” Pradip Kumar Das, its Chairman and Managing Director, said.
Under the Ministry of New & Renewable Energy (MNRE), the Indian Renewable Energy Development Agency (IREDA) functions as a non-banking financial company (NBFC), with a focus on financing renewable energy projects across India.