IREDA profit jumps 83% to all-time high of Rs 634 cr in FY22

State-owned Indian Renewable Energy Development Agency (IREDA) has posted a historic all-time high profit of Rs 634 crore for 2021-22.

This profit was 82.88 per cent higher as compared to the previous year's.

Profit Before Tax (PBT) in 2021-22 was Rs 834 crore, higher by 46.41 per cent from 2020-21, a company statement said.

The IREDA board approved the financial results for 2021-22 in a meeting held on Saturday while lauding the company's outstanding performance under challenging conditions.

The loan book of IREDA, an NBFC under Ministry of New & Renewable Energy grew from Rs 27,854 crore as on March 31, 2021 to Rs 33,931 crore at March-end this year, registering a growth of 21.82 per cent.

The company registered highest-ever loan sanction of Rs 23,921 crore , a growth of 117.44 per cent from the previous year's.

The loan disbursement of Rs 16,071 crore is the highest in the company's history and a record increase by 82 per cent from the previous year.

The net-worth of the company as on March 31, 2022 reached Rs 5,268 crore as against Rs 2,995 crore by the same period a year ago, which includes equity infusion of Rs. 1,500 crore on March 28, 2022 by Government of India.

Pradip Kumar Das, Chairman & Managing Director, IREDA stated that the remarkable achievements would not have been possible without regular cooperation and support of Statutory Auditors, RBI, and other stakeholders.

"IREDA promotes transparency, good governance and a proactive approach to ensure that the entire value chain in the operations of IREDA is happy and proudly sustains the feeling of Once IREDA, Always IREDA," he said.