IREDA Q3 profit jumps 67% to Rs 335.5 crore

IREDA Q3 results: Indian Renewable Energy Development ncy Limited (IREDA)’s profit climbed 67.2 per cent to Rs 335.5 crore (Q3FY23), from Rs 200.7 crore in same quarter a year ago (Q3FY23).

“This outstanding performance is attributed to consistent growth in Loan Book and a significant reduction in Net n-Performing Assets (NPAs) from 2.03 per cent to 1.52 per cent year-on-year,” IREDA said in a statement.

company’s revenue zoomed over 44 per cent to Rs 1, 252.9 crore in December quarter, from Rs 868.7 crore in same quarter previous fiscal.

New Delhi-based company's operating profit, also kwn as EBITDA, surged 51 per cent to Rs 1,154 crore in Q3FY24, from Rs 764 crore Q3FY23.

Meanwhile, its operating margin zoomed 416 basis points (bps) to 92.11 per cent, from 87.95 per cent in same quarter a year ago.

"IREDA is unwavering in its commitment to expedite adoption of renewable energy solutions in country. For investors and stakeholders, se results signal promising trajectory of IREDA's contributions to India's energy transition and environmental sustainability. se encouraging financial outcomes underscore IREDA's steadfast dedication to fostering expansion of renewable energy sector in India,” said Pradip Kumar Das, Chairman & Managing Director of IREDA.

IREDA listed at a 56.25 per cent premium to issue price of Rs 32, on vember 29 last year. stock skyrocketed following result anuncement. 

tably, IREDA's share price touched a new lifetime high of 148.90 during Saturday trading session. stock soared as much as 9.97 per cent.

shares have surged 41.63 per cent in last month. market capitalisation IREDA is Rs 40,020.8 crore, according to BSE.