IREDA Q3 Results: Net profit rises 26.8% YoY to ₹425.4 crore

Indian Renewable Energy Development Agency (IREDA) has reported a 26.8% year-on-year increase in its net profit (profit after tax) for the third quarter, reaching ₹425.4 crore compared to ₹335.5 crore in the same period last year. Sequentially, IREDA’s PAT jumped 10% from nearly ₹388 crore in Q2FY25.

IREDA’s total revenue from operations stood at Rs 1,698.45 crore, which surged over 35% in Q3FY25, compared to almost Rs 1,253 crore in the corresponding quarter of the last fiscal.

The company’s net interest income (NII) also surged by 39% YoY, standing at ₹622.3 crore, up from ₹448.1 crore in Q3 of the previous year.

#3QWithCNBCTV18 | IREDA reports #Q3 earnings

Net Profit Up 26.8% At ₹425.4 Cr Vs ₹335.5 Cr (YoY)

NII Up 39% At ₹622.3 Cr Vs ₹448.1 Cr (YoY) pic.twitter.com/yPbBbjoQKG

— CNBC-TV18 (@CNBCTV18Live) January 9, 2025

For the nine months ended on December 31, 2024, IREDA’s revenue from operations stands at ₹4,838 crore, 35% higher than in the corresponding period of the last financial year, the maharatna firm said in its investor presentation. The PAT for the period stands at ₹1,197 crore, 31% higher than ₹915 crore in the same period in the previous fiscal.

IREDA had already disclosed its business momentum for the quarter gone by last week, on January 1. The company had sanctioned loans worth ₹31,087 crore during the quarter, which is a growth of 129% from last year. IREDA had sanctioned loans worth ₹13,558 crore during the year-ago period.

Shares of IREDA settled nearly 3.5% lower at ₹215.75. In the last one year, IREDA shares have surged more than 109%.