Government-owned company Indian Renewable Energy Development Agency Limited (IREDA) has earned excellent net profit in the December quarter. There has been an increase of about 27 percent in net profit and it has now increased to Rs 425.37 crore. The company has earned this profit mainly on the basis of higher revenue. According to PTI news, the company said in a statement on Thursday that revenue from operations increased by 35. 57 percent to Rs 1,698 in the December quarter. 99 crore, whereas in the third quarter of FY 24 it was Rs 1,253. Was Rs 20 crores.
net worth strengthened
According to the news, profit after tax (PAT) or net profit (net profit) recorded an increase of 26. 77 percent in the quarter under review, which increased from Rs 335. 54 crore in the third quarter of FY 2024 to Rs 425. 37. It became crores of rupees. The company also said that its net worth strengthened to Rs 9,842. 07 crore, registering a year-on-year growth of 20.99 percent, which was Rs. 8,134. It is from Rs 56 crores. Earnings per share (EPS) improved to Rs 1.58, up 15.03 per cent from Rs 1.38 in the same quarter last fiscal.
Important role of IREDA
IREDA CMD Pradeep Kumar Das said that our excellent performance in the third quarter of FY 2024-25 reflects IREDA’s strong commitment to accelerate India’s renewable energy transition. He said that the significant growth in loan approvals, disbursements and expansion of our loan book highlights our important role in financing sustainable energy projects. He said that IREDA is well placed to advance the green energy ambitions of the country.
41 percent increase in loan distribution
Indian Renewable Energy Development Agency (IREDA) has recorded a 41 per cent growth in loan disbursement in the December quarter to Rs 17,236 crore. IREDA sanctioned loans worth Rs 31,087 crore in the third quarter, showing a phenomenal growth of 129 per cent year-on-year as compared to Rs 13,558 crore in the corresponding period last year. Loan disbursements also saw significant growth, rising 41 per cent to Rs 17,236 crore from Rs 12,220 crore a year ago.
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