IREDA Q3 PAT climbs 27% YoY to Rs 425 cr

Indian Renewable Energy Development Agency (IREDA)'s standalone net profit jumped 27% to Rs 425 crore on 36% increase in revenue from operations to Rs 1,698 crore in Q3 FY25 over Q3 FY24.

Profit before tax (PBT) jumped 39% YoY to Rs 538 crore during the quarter.

Operating profit stood at Rs 652 crore in Q3 FY25, up 51% as compared with Rs 432 crore in Q3 FY24.

Cost of borrowing declined to 7.68% in Q3 FY25 in Q3 FY25 from 7.82% in Q3 FY24.

Net interest margin increased 3.33% during the quarter as compared with 3.20% recorded in corresponding quarter last year.

 

Yield on loan assets (Gross) stood at 9.96% as on 31 December 2024 as compared with 9.87% as on 31 December 2023.

CRAR declined to 19.63% as on 31 December 2024 as against 23.88% as on 31 December 2023. Provision coverage ratio (Stage III) stood at 44.52% as on 31 December 2024 as compared with 48.33% as on 31 December 2023.

IREDA is a 'Navratna' Government of India Enterprise under the administrative control of Ministry of New and Renewable Energy (MNRE). IREDA is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987 engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation. As on December 2024, GoI held 75% stake in IREDA.

The counter declined 2.55% to Rs 210.40 on the BSE.

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