IREDA Q2 Net Profit Rises 54 Percent to INR 285 Crore

Profit Before Tax was INR 379.90 crore in Q2 FY 2023-24 as against INR 276.31 crore in Q2 FY 2022-23.

October 25, 2023. By Anurima Mondal

Indian Renewable Energy Development Agency (IREDA) has announced its audited financial results for the second quarter of the fiscal year 2023-24. The Mini Ratna enterprise reported a 54 percent increase in profits, reaching a Profit After Tax (PAT) of INR 285 crore for the quarter. There has been a consistent growth in the loan book and a significant reduction in Net Non-Performing Assets (NPAs) from 2.72 percent to 1.65 percent year-on-year.

Profit Before Tax was INR 379.90 crore in Q2 FY 2023-24 as against INR 276.31 crore in Q2 FY 2022-23. Profit After Tax rose up by 54 percent to 284.73 crore in Q2 FY 2023-24 as against INR 184.30 crore Q2 FY 2022-23. Total Income from Operations was INR 1,176.96 crore. The loan book of the company is at INR 47,514.48 crore as against INR 33,783.36 crore.

The Audited Financial Results for the second quarter of the fiscal year 2023-24 were approved by the Board of Directors at a meeting at IREDA’s registered office.

IREDA CMD Pradip Kumar Das said, "IREDA remains committed to its commitment of accelerating the adoption of renewable energy solutions in the country. These positive financial results are a testament to IREDA's steady dedication to facilitating the growth of the renewable energy sector in India, which contributes to the nation's energy transition and environmental sustainability."

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renewable energy transition

Renewable Energy in India