Indian Renewable Energy Development Agency (IREDA) advanced 3.54% to Rs 197.20 after the company's loan sanctions stood Rs 9,136 crore in the June quarter, steeply higher than Rs 1,893 crore in the June quarter of last year.
Loan disbursements for the quarter stood at Rs 5,320 crore, up 67.61% as against with Rs 3,174 crore reported in the same period a year ago.The outstanding loan book was at Rs 63,150 crore for the quarter ended June 30 2024, registering a growth of 33.77% as compared with Rs 47,207 crore posted in same period a year ago.
IREDA is a Government of India (GoI) enterprise under the administrative control of the Ministry of New and Renewable Energy (the MNRE). It is also conferred with the Mini Ratna (Category-I) status. As on March 2024, GoI held 75% stake in IREDA.
The companys net profit jumped 33% to Rs 337.38 crore in Q4 FY24 as compared with Rs 253.62 crore in Q4 FY23. Revenue from operations increased 33.6% to Rs 1,339.77 crore in Q4 FY24 as compared with Rs 1,002.67 crore posted in corresponding quarter last year.
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