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IREDA Q3 Results: 36% Revenue Growth, 27% Rise in PAT

Published: Jan 11, 2025

By TIOLCorplaws News Service

NEW DELHI, JAN 11, 2025: INDIAN Renewable Energy Development Agency Ltd. (IREDA) has announced its financial results for the third quarter of FY 2024-25, showcasing significant growth across key financial metrics. As the nation's largest pure-play Green Financing NBFC, IREDA has once again set industry standards by publishing its Quarterly Audited Financial Results within just 9-days. This milestone positions IREDA as the only corporate to publish Audited Financial Results within 9-days period.

The Board of Directors of IREDA, during a meeting held today, acknowledged the company's outstanding performance and approved the Financial Results for Q3 FY 2024-25.

Key Highlights of Q3 FY 2024-25:

- Revenue from Operations : Achieved Rs.1,698.99 crore, 35.57% increase compared to Rs.1,253.20 crore in Q3 FY 2023-24

- Profit Before Tax (PBT): Stood at Rs.538.20 crore, marking a growth of 39.38% from Rs.386.14 crore in the corresponding quarter of the previous fiscal year

- Profit After Tax (PAT): Recorded Rs.425.37 crore, reflecting 26.77% rise from Rs.335.54 crore in Q3 FY 2023-24

- Loan Sanctions: Amounted to Rs.13,226.81 crore, a remarkable 45.01% growth compared to Rs.9,121.11 crore in Q3 FY 2023-24

- Loan Disbursements: Reached Rs.7,448.96 crore, up by 25.27% from Rs.5,946.45 crore in the same period last year

- Loan Book: Expanded to Rs.68,959.61 crore, showing a 36.34% increase compared to Rs.50,579.67 crore in Q3 FY 2023-24

- Net Worth: Strengthened to Rs.9,842.07 crore, registering a 20.99% growth from Rs.8,134.56 crore in Q3 FY 2023-24

- Earnings Per Share (EPS): Improved to Rs.1.58, growing by 15.03% from Rs.1.38 in the same quarter of the previous fiscal.

Commenting on the results, Pradip Kumar Das, CMD, IREDA, said, "Our outstanding performance in Q3 FY 2024-25 reflects IREDA's steadfast commitment to accelerating India's renewable energy transition. The significant growth in loan sanctions, disbursements, and the expansion of our loan book highlight our pivotal role in financing sustainable energy projects. With a robust financial position and strong profitability as evidenced by our PAT, IREDA remains well-poised to drive the nation's green energy ambitions forward."

Das also expressed his appreciation for Team IREDA for their unwavering dedication and excellence in achieving these milestones. He further extended his gratitude to Pralhad Joshi, Hon'ble Union Minister of New & Renewable Energy, Consumer Affairs and Food & Public Distribution; pad Naik, Hon'ble Minister of State for Power and New & Renewable Energy; Prashant Kumar Singh, Secretary, MNRE; other senior officials of the ministry; and the Board of Directors for their continued support and invaluable guidance.

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