IREDA Q2 results: Net profit grows 36% YoY to ₹387.75 crore; check more details

Total income from operations came in at ₹1,630.38 crore, up 38.5% against ₹1,176.96 crore logged in the year-ago period. 

Basic earnings per share (EPS) stood at ₹1.44 for the quarter under review. 

The company's net interest income (NII), i.e., interest earned minus interest expended during the quarter, increased by 51.9% to ₹547 crore from ₹360 crore reported during the corresponding quarter of the previous fiscal. 

Loan disbursements also saw significant growth, increasing by 56% to ₹9,787 crore from ₹6,273 crore recorded in September 2023, the company said.

The company's loan book outstanding stood at ₹64,500 crore, up 36% from ₹47,514 crore in the previous year.

"IREDA's strong financial results highlight the increasing demand for clean energy financing and our dedication to supporting the green energy transition," Pradip Kumar Das, CMD of IREDA, said.

Shares of IREDA settled over 1% higher at ₹233.75 apiece on the BSE on Thursday. 

Last month, the state-owned Indian Renewable Energy Development Agency (IREDA) said it has received the government's approval to raise up to ₹4,500 crore through QIP. 

The approval was granted by the Department of Investment and Public Asset Management (DIPAM) based on the recommendations of a high-level committee, a company statement said.

According to the statement, the fundraising will be carried out through the Qualified Institutions Placement (QIP) route, with a planned dilution of the Government of India's shareholding in IREDA by up to 7% on a post-issue basis, to be executed in one or more tranches.