IREDA Q4 results: Net profit grows 33% to Rs 337 crore on higher income

State-owned IREDA on Friday posted a 33 per cent rise in its net profit to Rs 337.37 crore for the quarter ended March 2024, aided by higher income.

It had clocked Rs 253.61 crore net profit during the January-March period of the preceding 2022-23 fiscal, the company said in an exchange filing.

The company's total income surged to Rs 1,391.63 crore in the fourth quarter of FY24 from Rs 1,036.31 crore a year ago.

Its expenses were Rs 911.96 crore in the period under review, as against Rs 747.93 crore in the year-ago period.

Indian Renewable Energy Development Agency Limited (IREDA), under the Ministry of New and Renewable Energy, is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy and energy efficiency/conservation.