IREDA Q1 Results Show 32 percent Revenue Growth and 30 percent Increase in Net Profit

Indian Renewable Energy Development Agency Ltd. (IREDA) announced its audited financial results for the first quarter of fiscal year 2024-25. As the largest Pure-Play Green Financing NBFC in the country, IREDA achieved a new industry standard by publishing its Audited Financial Results within only 12 days. This milestone also marks IREDA as the first Central Public Sector Enterprise (CPSE) to promptly declare results and achieve the fastest publication of Audited Results in the Banking and NBFC space.

IREDA has achieved Profit After Tax of INR 383.69 crore, marking an impressive year-on-year growth of 30.25 percent. The company has successfully reduced its Net Non-Performing Assets to 0.95 percent in the first quarter of FY 2024-25 from 1.61 percent in the same quarter of FY 2023-24.

During a meeting held today in Bhubaneswar, Odisha, the Board of Directors of IREDA commended the company's exceptional performance and sustained growth, approving the Audited Financial Results for the first quarter of FY 2024-25. The company’s net worth as of 30th June 2024 has reached INR 9,110.19 crore, up from INR 6,290.40 crore, reflecting a YoY growth of 44.83%.In Q1 of FY 2024-25 compared to Q1 of FY 2023-24, IREDA reported significant financial improvements: Profit After Tax increased by 30.25 percent to INR 383.69 crore, Revenue from Operations rose by 32.11 percent to INR 1,501.71 crore, Loan Sanction surged by 386.68 percent to INR 9,210.22 crore, Loan Disbursement grew by 67.84 percent to INR 5,325.88 crore, Loan Book expanded by 33.89 percent to INR 63,206.78 crore, Net-worth increased by 44.83 percent to INR 9,110.19 crore, and Net NPAs decreased by 41.01 percent to 0.95 percent.