Ireda Q3FY25 net profit rises 27% to Rs 425.38 cr; loan disbursements up 41% Y-o-Y
New Delhi: State-run financier Indian Renewable Energy Development Agency (Ireda) posted a net profit of Rs 425.38 crore for the October-December quarter of FY25, marking a 27% increase from Rs 335.53 crore in the same period last year, as per regulatory filings.
The company’s revenue from operations surged 35.6% year-on-year (Y-o-Y) to Rs 1,698.45 crore, compared to Rs 1,252.85 crore in the year-ago quarter.
On a sequential basis, profit after tax (PAT) rose 10% from Rs 387.75 crore in Q2FY25.
Ireda reported an improvement in asset quality, with gross non-performing assets (NPAs) dropping to 2.68% in Q3FY25, down from 2.90% in the same quarter a year earlier.
Net interest income (NII) saw robust growth, rising 39% Y-o-Y to Rs 622.3 crore, compared to Rs 448.1 crore in Q3 of the previous fiscal year.
Loan disbursements also increased significantly, growing 41% Y-o-Y to Rs 17,236 crore, compared to Rs 12,220 crore in the same quarter last year.
The company’s outstanding loan book stood at Rs 69,000 crore as of Q3FY25, up 36% from Rs 50,580 crore a year earlier.
Ireda's total expenses for the quarter increased by 33.8% Y-o-Y to Rs 1,160.78 crore, up from Rs 867.06 crore in the corresponding period last year.
The debt-equity ratio stood at 5.89 times, compared to 5.13 times in the year-ago period, while the company’s net worth rose 21% to Rs 9,842.07 crore from Rs 8,134.56 crore.
Following the announcement, Ireda's shares closed 3.31% lower at Rs 215.90 on Thursday, compared to Rs 223.30 at the previous session’s close.
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