IREDA Q2 net profit surges 67% to Rs 184 crore on higher revenues

The Indian Renewable Energy Development Agency (IREDA) on Saturday posted 67 per cent jump in net profit at Rs 184.30 crore for September quarter 2022-23, mainly due to higher revenues.

In the year-ago period, the profit after tax was Rs 110.27 crore, according to a statement from Ministry of New & Renewable Energy.

Gross income rose to Rs 791.56 crore from Rs 682.94 crore.

IREDA's Net Non-Performing Assets (bad loans) were reduced to 2.72 per cent in the quarter under review from 4.87 per cent in the same period a year ago.

Its loan book stood at Rs 33,783.36 crore in the quarter as against Rs 28,856.48 crore earlier.

The agency sanctioned loans of Rs 11,226.49 crore in the quarter as compared with Rs 5,925.12 crore in the same period a year ago.