IREDA's Green Surge: A Powerful Leap in Profits and Revenue

State-owned Indian Renewable Energy Development Agency Ltd (IREDA) achieved a 27% increase in net profit, reaching Rs 425.37 crore in the December quarter, mainly due to higher revenue. Operations revenue rose by 35.57% to Rs 1,698.99 crore. Strengthened net worth and enhanced EPS reflect its robust performance and commitment to India's renewable energy transition.

State-owned Indian Renewable Energy Development Agency Ltd (IREDA) reported a significant leap in net profit for the December quarter, reaching Rs 425.37 crore, a nearly 27% increase from the previous figures. This performance is largely attributed to a notable rise in revenue.

Revenue from operations saw a substantial growth of 35.57%, climbing to Rs 1,698.99 crore, compared to Rs 1,253.20 crore in the third quarter of FY24, as per the company's recent statement. Profit After Tax also recorded an impressive rise of 26.77% in the reporting quarter.

The company highlighted a strengthened net worth of Rs 9,842.07 crore, achieving a 20.99% year-on-year growth. Additionally, Earnings Per Share improved by 15.03%. CMD Pradip Kumar Das underlined IREDA's crucial role in financing sustainable energy projects, emphasizing its commitment to driving India's renewable energy goals.

(With inputs from agencies.)