Indian Renewable Energy Development Agency (IREDA) on Tuesday reported a 48.7% jump in fourth-quarter net profit to ₹501.6 crore, compared with ₹337 crore a year earlier, driven by robust growth in interest income.
Net interest income rose 47.3% to ₹801.3 crore for the quarter ended March 31, from ₹544.1 crore in the same period last year, the state-run lender said in an exchange filing.
IREDA, which finances renewable energy and energy efficiency projects, has benefited from rising demand for green infrastructure funding and a growing loan book.
Earlier this month, the company had already shared its business update for the March quarter.
IREDA reported a 27% growth in its loans sanctioned during the quarter to ₹47,453 crore, compared to ₹37,354 crore that were sanctioned at the end of the same quarter last year.
Disbursements of loans also increased by 20% year-on-year to ₹30,168 crore, while the company’s loan book outstanding at the end of the quarter stood at ₹76,250 crore, a growth of 28% compared to the ₹59,968 crore reported during the same quarter last year.
IREDA now has 26.48 lakh retail shareholders, who now have a 20.25% stake in the company, in comparison to the 25.88 lakh small shareholders who had a 19.95% stake at the end of the December quarter.
Government shareholding in IREDA has remained constant at 75%.
The company is also yet to shed more clarity on the timeline for its Qualified Institutional Placement (QIP). The board has already approved raising ₹5,000 crore through this exercise. The proposal was also approved by its shareholders in February this year.
IREDA’s board has already approved a borrowing plan of ₹30,800 crore for financial year 2026.
The state-run enterprise does not have significant analyst coverage.
Shares of IREDA are trading 5% higher on Tuesday at ₹161.8. The stock is up 16% over the last one month ahead of results.
First Published: Apr 15, 2025 10:48 AM IST
