IREDA Q3FY25 net profit jumps 27% YoY to ₹425 crore; shares trade lower

Revenue from operations jumped 36% YoY to ₹1,698 crore, and net profit for the quarter also jumped 27% YoY ₹426 crore. The renewable energy sector witnessed strong growth, as non-fossil fuel capacity increased to 200 GW, in line with its target of 500 GW for 2030.

On the operational front, the company’s operating income jumped 51% YoY to ₹652 crore for Q3FY25, compared to ₹432 crore, as interest income jumped 36% YoY to ₹1,698 crore. The asset quality improved further GNPA at 2.68% from 2.90% in the previous year's similar quarter. Similarly, the net NPA also improved from 1.52% in Q3FY24 to 1.50% in Q3FY25.

The loan book for the nine months ended December jumped to ₹68,960 crore from ₹50,580 crore in the previous year's similar period. On the other hand, the net interest margins for the quarter improved to 3.33% from 3.20% in the previous year, a similar period as the cost of borrowings stabilised to 7.68% from 7.82%.

IREDA's shares performed poorly for Q3FY25, with nearly 5% negative returns. However, they more than doubled in 2024.