State-run IREDA on Saturday posted a 67% rise in net profit to ₹335.5 crore for the quarter ended in December 2023, bolstered by higher income.
It had clocked ₹200.7-crore net profit during the October-December period of the preceding FY23, the company said in an exchange filing.
Total income surged to ₹1,253.1 crore in the third quarter of FY24 from ₹868.9 crore a year ago.
Its expenses were ₹867.1 crore in the period under review, against ₹634.2 crore in the year-ago period. Equity shares of the company were listed on BSE and NSE on November 29, 2023.
In a separate statement, IREDA CMD Pradip Kumar Das said: “For investors and stakeholders, these results signal the promising trajectory of IREDA’s contributions to India’s energy transition and environmental sustainability.”
The company’s loan book was at ₹50,579.6 crore, up 33.50% from ₹37,887.6 crore in the same quarter a year ago. IREDA’s net-worth also rose by 45.49% to ₹8,134.5 crore from ₹5,591 crore in the year-ago period.
IREDA, under the Ministry of New and Renewable Energy, is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy and energy efficiency/conservation.
