IREDA Q3: PSU to declare Financial Results today, Income Growth to Rise over 50% with QIP Clarification
The shares of state-owned renewable energy firm, Indian Renewable Energy Development Agency (IREDA) Ltd are strongly tempted to gain focus on Friday’s session as the company is going to report its third quarter results on 9th January, 2025.
Mumbai: The shares of state-owned renewable energy firm, Indian Renewable Energy Development Agency (IREDA) Ltd are strongly tempted to gain focus on Friday’s session as the company is going to report its third quarter results on 9th January, 2025.
The strong provisional business growth has been expected to give a strong stimulation to the financial results of the company. As the Loan Book has been registered a growth of 27.6%, approximately from previous year to Rs 87,975 crore and the disbursements have witnessed a growth of 44.5% during the first nine months of the year, standing at Rs 24,903 crore with sanctions up by 29%.
The core income growth of IREDA is expected to be more than 50% rise as compared to the previous rise during the September quarter of the FY25-26. The company has been witnessing a strong growth potential in terms of revenue and income generation and is widely expected to give a robust performance in terms of financial outcomes.
In terms of September-end financial results, the Revenue of the company is at Rs 792.27 crore, up by 36.32% and the net income of the PSU is at Rs 549.33 crore, up by 41.68%.
The investors are expecting to outreach the potential Qualified Institutional Placement (QIP) that the company is aiming to carry out and raise up to around Rs 3,000 crore through this process.
Currently, the shares of IREDA are trading down by 1.15% at Rs 139.55 at BSE. The company is also orienting towards strong dividend yield with over 2-3% range.