Ireda net profit grows to Rs 554 cr in Sep qtr
AgenciesIt earned a net profit of Rs 549 crore in the second quarter of the preceding financial year, the Indian Renewable Energy Development Agency (Ireda) said in a statement.
In July-September, the company's revenue from operations rose 14 per cent to Rs 2,345 crore from Rs 2,057 crore a year ago.
Loan disbursement increased 31 per cent to Rs 10,579 crore against Rs 8,062 crore in the year-ago quarter.
Loan book grew 15 per cent to Rs 97,411 crore from Rs 84,477 crore in Q2 FY26.
The company's net worth grew 11 per cent to Rs 14,337 crore during the quarter compared to Rs 12,920 crore a year earlier.
"Our Q2 FY27 performance reflects the continued strength of Ireda's business fundamentals and focus on quality growth. 31 per cent rise in loan disbursements, along with 15 per cent growth in the loan book, underscores the sustained demand for renewable energy financing across the country.
"Equally significant is the sharp improvement in our asset quality, with Net NPAs declining to 1.08 per cent from 1.97 per cent, reflecting the strength of our risk management framework and monitoring," Bijay Kumar Mohanty, Chairman & Managing Director, Ireda, said.
Under the Ministry of New & Renewable Energy (MNRE), Ireda functions as a state-owned non-banking financial company (NBFC), with a focus on financing renewable energy projects across India.