IREDA Share Price in Focus As It Surged Over 2%

As of December 4, 2024, IREDA share price is trading at ₹210.28, reflecting an intraday gain of ₹3.57 or 1.73%. The stock opened at ₹207.75, reached a high of ₹213.40, and a low of ₹206.36 during the session. 

Stock Performance

Over the past 6 months, the stock has surged by ₹42.83, marking a 25.58% gain. On an annual basis, it has seen an impressive rise of ₹145.69, delivering a massive 225.70% growth. The stock’s 52-week high is ₹310.00, while its 52-week low is ₹61.50, showcasing significant volatility and strong performance over the year.

IREDA Posts 36% Profit Growth in Q2FY25

Indian Renewable Energy Development Agency (IREDA) reported a 36% rise in profit after tax for the September quarter (Q2FY25), reaching ₹387.7 crore compared to ₹284.7 crore in Q2FY24. Revenue from operations also increased significantly, jumping 38.5% year-on-year to ₹1,630.4 crore from ₹1,177 crore in the same period last year.

The company’s loan portfolio grew 35.9% to ₹64,564.4 crore, up from ₹47,514.5 crore a year ago. Loan sanctions saw an impressive nearly four-fold increase to ₹8,723.78 crore compared to ₹2,852.05 crore in Q2FY24. Loan disbursements also rose 43.93%, totalling ₹4,461.87 crore, up from ₹3,099.98 crore in the same quarter last year.

IREDA to Launch Subsidiary for Renewable Energy and Emerging Technologies

IREDA announced receiving approval from the Department of Investment and Public Asset Management (DIPAM) and the Ministry of New and Renewable Energy (MNRE) to set up a wholly-owned subsidiary. This new entity will focus on retail initiatives like PM KUSUM, rooftop solar projects, and consumer renewable energy solutions. It will also explore emerging technologies, including electric vehicles, energy storage, green technologies, and energy efficiency.

About IREDA 

Established in 1987, IREDA is a government-owned enterprise under MNRE dedicated to promoting renewable energy and energy efficiency projects. As a Non-Banking Financial Company (NBFC) and a Mini Ratna (Category – I) enterprise, it plays a key role in financing green energy projects and advancing sustainable development.

Last year, in November, IREDA achieved a significant milestone by listing on the NSE and BSE through its IPO. The stock debuted at ₹50 on the BSE, a 56.25% premium over its issue price of ₹32.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.