India’s Largest Green Financing NBFC Posts 36 Per Cent Sales Growth
Profit after tax (PAT) rose by 26.77 per cent to Rs 425.37 crore, up from Rs 335.54 crore in Q3 FY24.
Indian Renewable Energy Development Agency Ltd. (IREDA), the nation’s largest green financing non-banking financial company (NBFC), has reported impressive growth in its Q3 FY25 financial results. The company posted a 35.57 per cent year-on-year (YoY) increase in revenue from operations, reaching Rs 1,698.99 crore compared to Rs 1,253.20 crore in the same quarter last year. Profit after tax (PAT) rose by 26.77 per cent to Rs 425.37 crore, up from Rs 335.54 crore in Q3 FY24.
Financial Performance
Loan sanctions grew by an impressive 45.01 per cent YoY to Rs 13,226.81 crore, while loan disbursements increased by 25.27 per cent to Rs 7,448.96 crore. The company’s loan book expanded by 36.34 per cent YoY to Rs 68,959.61 crore, compared to Rs 50,579.67 crore in the corresponding period last fiscal.
IREDA’s net worth rose by 20.99 per cent to Rs 9,842.07 crore in Q3 FY25, up from Rs 8,134.56 crore in Q3 FY24. Earnings per share (EPS) also increased by 15.03 per cent YoY to Rs 1.58, compared to Rs 1.38 in the same quarter last year.
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Stock Market Performance
In today’s trading session, IREDA shares rose by 3.35 per cent, outperforming the broader market where the Nifty 50 index declined by 0.71 per cent, and the Nifty Midcap and Nifty Smallcap indices fell by 2.06 per cent and 1.98 per cent, respectively. The stock is up 102 per cent from its 52-week low and has delivered multibagger returns of over 230 per cent since its listing in December 2023.
About the Company
Indian Renewable Energy Development Agency Ltd. was established as a wholly owned Government of India enterprise under the administrative control of the Ministry of New and Renewable Energy (MNRE). The company is the country’s largest pure-play green financing NBFC, offering a wide range of financial products and services. IREDA supports renewable energy (RE) projects and related activities, including project conceptualization, equipment manufacturing, transmission, and post-commissioning services.
Disclaimer: This article is for informational purposes only and not investment advice.