Indian Renewable Energy Development Agency (IERDA) hit an upper circuit of 5% to Rs 149.75 after the company's total disbursement jumped 13.98% to Rs 12,869 crore in Q4 FY24 as compared with Rs 11,291 in Q4 FY23.
During the quarter, loan sanctioned surged 101.71% to Rs 23,796 crore as compared with Rs 11,797 crore in the quarter ended 31st March 2023.During FY24, the loan disbursements stood at Rs 25,089 crore in FY24, registering the growth of 15.94% as compared with Rs 21,639 crore in FY23. Loan sanctioned increased 14.63% YoY to Rs 34,354 crore in FY24 while loan book jumped 26.71% to Rs 59,650 crore in FY24 as against Rs 47,076 crore in FY23.
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 December 2023, GoI held 75% stake in IREDA
IREDA's net profit surged 67.14% to Rs 335.54 crore on 44.2% increase in total income to Rs 1253.20 crore in Q3 December 2023 over Q3 December 2022. Profit before tax soared 64.5% YoY to Rs 386.14 crore in Q3 December 2023.
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