On Jan 9, 2025, Indian Renewable Energy Development Agency (IREDA) released its results for the quarter (Q3 FY25) and nine months ended December 31, 2024. The company posted a YoY growth of 26.8% in net profit (profit after tax) for Q3 FY25, reaching ₹425.4 crore compared to ₹335.5 crore in the same period last year. On a QoQ basis, IREDA’s PAT rose 10% from nearly ₹388 crore in Q2FY25.
The company’s total revenue from operations rose 35%YoY to ₹1,698.45 crore as compared to almost ₹1,253 crore in the corresponding quarter of the last fiscal. The company’s net interest income (NII) also surged by 39% YoY at ₹622.3 crore, up from ₹448.1 crore in Q3FY24.
On Jan 10, IREDA share price opened at ₹218.35 and reached the day low of ₹211.80 at 09:20 AM.
IREDA’s revenue from operations increased 35% to ₹4,838 crore for the 9 months ended on December 31, 2024. In addition, the company’s bottom line also saw growth of 31% to ₹1,197 crore, as compared to ₹915 crore in 9M FY24. The company had recently approved loans worth ₹31,087 crore during the quarter, which is a growth of 129% from last year. IREDA had sanctioned loans worth ₹13,558 crore during the year-ago period.
The company believes that the outlook for India’s Renewable Energy (RE) sector is positive, with major policy announcements & ambitious targets. The nation has achieved 200 GW of non-fossil fuel capacity in FY25 (up to Nov 2024). It is expected that India is aiming for 500 GW of non-fossil fuel-based energy by 2030.
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Published on: Jan 10, 2025, 9:32 AM IST
Sachin Gupta
Sachin Gupta is a Content Writer with 6+ years of experience in the stock market, including global markets like the US, Canada, and Australia. At Angel One, Sachin specialises in creating financial content that simplifies complex market trends. Sachin holds a Master's in Commerce, specialising in Economics.
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