Ireda Q3 results: Net profit rises 27% to Rs 425.35 crore, revenue up 37%

State-run financier Indian Renewable Energy Development Agency (Ireda), on Thursday, reported a net profit of Rs 425.38 crore in October-December quarter of the financial year 2024-25 (Q4FY25). It is 27 per cent more than the net profit of Rs 335.53 crore reported in the the year ago period, the company said in its regulatory filings.  The Q3FY25 total revenue from operations stood at Rs 1,698.45 crore which was up 35.6 per cent year-on-year (Y-o-Y) from the Rs 1,252.85 crore posted in the corresponding quarter of the last financial year.

 

On a sequential basis, the profit after tax (PAT) grew 10 per cent over Rs 387.75 crore reported in Q2FY25.   The gross non-performing assets (NPAs) dropped to 2.68 per cent in the third quarter of FY25, compared to 2.90 per cent in the same period a year ago, according to the results filing data.   The company’s net interest income (NII) also surged 39 per cent Y-o-Y, standing at Rs 622.3 crore, up from Rs 448.1 crore in Q3 (the corresponding quarter of the last fiscal) of the previous year.  Ireda’s loan disbursements for the December quarter rose by 41 per cent Y-o-Y to Rs 17,236 crore, up from Rs 12,220 crore in the same period last year. At the end of Q3FY25, Ireda's outstanding loan book stood at Rs 69,000 crore, a 36 per cent rise from Rs 50,580 crore a year earlier.  The company's total expenses for the third quarter rose by 33.8 per cent to Rs 1,160.78 crore in the financial year 2024-25, compared to Rs 867.06 crore in the same period a year ago.  Ireda's debt-equity ratio is at 5.89 times, compared to 5.13 times in the previous year.  The company's net worth rose 21 per cent to Rs 9,842.07 crore in the third quarter, compared to Rs 8,134.56 crore in the same period a year ago.  Ireda's shares closed 3.31 per cent lower at Rs 215.90 after Thursday's market session, compared to Rs 223.30 at Wednesday's market closing.