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IREDA Q2 Result: 36% YoY Profit Boosts Clean Energy, Income Jumps 38.5% – Find Out More Inside!

IREDA Q2 Result: IREDA reported a 36.18% YoY increase in net profit to ₹387.75 crore for Q2 FY25, driven by higher income and loan growth
IREDA Q2 Result: 36% YoY Profit Boosts Clean Energy, Income Jumps 38.5% – Find Out More Inside!

IREDA Q2 Result: The Indian Renewable Energy Development Agency (IREDA) reported a robust 36.18% year-on-year rise in net profit, reaching ₹387.75 crore for the quarter ending September 30, 2024 (Q2 FY25). This performance reflects IREDA’s strong position in the renewable energy sector as it continues to support the green energy transition.

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Total income from operations showed significant growth, increasing by 38.5% to ₹1,630.38 crore compared to ₹1,176.96 crore during the same quarter last year. This increase indicates rising demand for clean energy financing, highlighting IREDA’s vital role in promoting sustainable energy projects.

Basic earnings per share (EPS) stood at ₹1.44 for the quarter. The company’s net interest income (NII) also experienced substantial growth, climbing by 51.9% to ₹547 crore from ₹360 crore in the corresponding quarter of the previous fiscal year.

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Moreover, IREDA reported a remarkable 303% jump in loan sanctions, totaling ₹17,860 crore in the April-September period of this fiscal year. Loan disbursements also rose significantly, increasing by 56% to ₹9,787 crore from ₹6,273 crore a year earlier.

As of now, the company’s outstanding loan book is ₹64,500 crore, reflecting a 36% increase from ₹47,514 crore in the previous year. IREDA shares closed over 1% higher at ₹233.75 on the BSE, further indicating positive investor sentiment.

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