Indian Renewable Energy Development Agency Limited (IREDA)’s shares have fallen by more than 3 percent today on January 9. This stock closed at Rs 215.90, down 3.31% on BSE. This fall in the company’s shares was seen before the results of the third quarter of FY25. IREDA is scheduled to declare its December quarter results today. With today’s fall, the market cap of the company has declined to Rs 58,028 crore. The stock’s 52-week high is Rs 310 and 52-week low is Rs 101.20.
Good growth in loan disbursement of IREDA
Earlier on January 1, IREDA had announced that it has achieved good growth in loan disbursement in the third quarter of the current financial year. According to provisional data, loan disbursements during the quarter increased by 41 per cent year-on-year to Rs 17,236 crore.
Pradeep Kumar Das, Chairman and MD, IREDA, said in a statement, “IREDA’s stellar performance reflects our unwavering commitment to drive India’s renewable energy transition. The 129 per cent increase in loan approvals reflects stakeholders’ growing confidence in our capabilities. “And underlines the important role we play in supporting green energy projects.”
IREDA’s second quarter results
IREDA had reported nearly 36% year-on-year growth in its net profit to Rs 388 crore in the second quarter ended September 30, 2024. The company’s total income during the quarter increased to Rs 1,630.38 crore from Rs 1,176.96 crore a year ago, an increase of 38.52 per cent.
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