IREDA Q1 Results: PAT jumps 30% YoY to Rs 384 crore, revenue surges 32%
The state-run NBFC sanctioned a loan worth Rs 9,210 crore as against 1,892 crore, which was up by 387%, the company said in its filing to the exchanges. The loan disbursed were to the tune of Rs 5,326 crore as against 3,173 crore in the year- ago period. It was higher by 68%.
The loan book as on June 30, 2024, stood at Rs 63,207 crore as against Rs 47,207 crore in Q1FY24, up by 34%.
The net-worth of the company was Rs 9,110 crore as against Rs 6,290 crore, higher by 45%.
The net non-performing assets (NPAs) stood at 0.95% as against 1.61%, witnessing a climbdown by 41.01% in percentage terms, the company filing said.
Pradip Kumar Das, Chairman & Managing Director of IREDA, expressed his happiness at the performance. He emphasized IREDA’s steadfast commitment to accelerating the adoption of renewable energy solutions in India, indicating a promising trajectory for investors and stakeholders.
The earnings were announced after market hours and the stock had ended flat at Rs 284 on the NSE on Friday. The multibagger renewable energy play has been in top form since its listing on November 29, 2023. It has so far given returns of 373% outperforming the Nifty by miles. The broader index’s returns in the last one year has been to the tune of 26%.
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