IREDA Shares Surge 4% on Strong Q3 Profit and Revenue Growth

RENEWABLES

Overview

Indian Renewable Energy Development Agency (Ireda) shares climbed 4% after announcing robust Q3 results. The state-owned firm reported a 37.5% year-on-year jump in net profit to ₹585.16 crore and a 27% revenue increase to ₹2,102.29 crore. This performance highlights Ireda's ongoing expansion in funding India's green energy transition, with loan book growth of 28%.

IREDA Shares Rally on Robust Q3 Performance

Indian Renewable Energy Development Agency (Ireda) shares surged 4.1% on Friday, reaching an intra-day high of ₹142.30 on the BSE. The buying momentum followed the release of the company's strong third-quarter financial results after market close.

Q3 Financial Snapshot

State-owned Ireda reported a substantial 37.5% year-on-year increase in its consolidated net profit for the December quarter, reaching ₹585.16 crore, up from ₹425.38 crore in the same period last year. Revenue from operations saw a healthy 27% jump to ₹2,102.29 crore, compared to ₹1,654 crore a year prior.

Loan Book and Disbursements Expand

The company's loan book grew by 28% to ₹87,975 crore by the end of the quarter, demonstrating sustained demand for renewable energy financing. Disbursements during the quarter climbed 32% to ₹9,860 crore. Ireda's net worth also saw a significant 38% rise, reaching ₹13,537 crore.

Strategic Role in Green Energy

Pradip Kumar Das, Chairman and Managing Director of Ireda, highlighted the financial performance as a testament to the company's commitment to accelerating India's renewable energy transition. The company, a 'Navratna' government enterprise, provides financial assistance for new and renewable energy projects and energy efficiency. The positive results outpaced the broader market, with the Sensex trading down 0.47% at the time of reporting.

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