The Indian Renewable Energy Development Agency Ltd (IREDA), a state-owned entity, has posted a 27% increase in net profit, reaching Rs 425.37 crore for the December quarter, driven by higher revenues. The company’s operational revenue grew by 35.57%, reaching Rs 1,698.99 crore for the December quarter, compared to Rs 1,253.20 crore in the same period last year, according to a statement released on Thursday.
Net profit or Profit After Tax (PAT) saw a rise of 26.77%, increasing from Rs 335.54 crore in Q3 FY24 to Rs 425.37 crore in the reporting quarter. IREDA also reported a 20.99% year-on-year growth in net worth, which strengthened to Rs 9,842.07 crore from Rs 8,134.56 crore. Earnings Per Share (EPS) increased by 15.03%, rising to Rs 1.58 from Rs 1.38 in Q3 of the previous fiscal year.
Pradip Kumar Das, Chairman and Managing Director of IREDA, stated, “Our strong performance in Q3 FY 2024-25 highlights IREDA’s commitment to accelerating India’s renewable energy transition.” He further emphasized that the growth in loan sanctions, disbursements, and the expansion of the loan book underscore IREDA’s critical role in financing sustainable energy projects, positioning the company to continue advancing the nation’s green energy goals.
The Indian Renewable Energy Development Agency (IREDA), a public sector undertaking under the Ministry of New and Renewable Energy (MNRE), is a pivotal institution in promoting clean energy initiatives in India. Established in 1987, IREDA specializes in financing renewable energy and energy efficiency projects, contributing significantly to India’s transition toward a sustainable energy future.
Its diverse portfolio spans solar, wind, hydro, biomass, and energy efficiency projects, supporting both large-scale infrastructure and innovative technologies. By providing financial solutions, including loans and grants, IREDA empowers stakeholders to implement green energy projects, fostering economic growth while addressing climate change. Recognized for its role in driving India’s renewable energy ambitions, IREDA remains instrumental in achieving the nation’s target of 500 GW of renewable energy capacity by 2030.
