IREDA Q3 Results in Focus: Revenue and Profit goes up

New Delhi: 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. 

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Key Highlights of IREDA 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.

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What IREDA CMD comments on Q3 Results

Commenting on the results, Shri 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."

Shri Das also expressed his appreciation for Team IREDA for their unwavering dedication and excellence in achieving these milestones. He further extended his gratitude to Shri Pralhad Joshi, Hon’ble Union Minister of New & Renewable Energy, Consumer Affairs and Food & Public Distribution; Shri Shripad Naik, Hon’ble Minister of State for Power and New & Renewable Energy; Shri 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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