IREDA climbs after loans sanction spurts YoY to Rs 31,087 cr

Indian Renewable Energy Development Agency (IREDA) jumped 3.97% to Rs 223.70 after the company?s loan sanctioned surged 129% to Rs 31,087 crore as on 31 December 2024 as compared with Rs 13,558 crore as on 31 December 2023.

Loan disbursements for the December 2024 stood at Rs 17,236 crore, up 41% as against with Rs 12,220 crore reported in the same period a year ago.

The outstanding loan book was at Rs 69,000 crore for the December 2024, registering a growth of 36% as compared with Rs 50,580 crore posted in same period a year ago.

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.

Indian Renewable Energy Development of India (IREDA) reported standalone net profit of Rs 387.75 crore in Q2 FY25, registering a growth of 36.18% as agaisnt Rs 284.73 crore posted in Q2 FY24. Revenue from operations increased 38.49% year on year (YoY) to Rs 1,629.55 crore in the quarter ended 30 September 2024.

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