IREDA Q3 results: Net profits rise 27% YoY to ₹425.35 crore; revenue up 37%

IREDA Q3 results: The Indian Renewable Energy Development Agency (IREDA) announced its October to December quarter results on Thursday, January 9. The state-owned company's net profits rose 27 per cent to ₹425.38 crore in the third quarter of the financial year 2024-25, compared to ₹335.53 crore in the same quarter of the previous year. 

The revenue from operations rose 37 per cent to ₹1,654.45 crore in the October to December quarter results of the financial year 2024-25, compared to ₹1,208.10 crore in the same quarter the previous year.

The company's total expenses for the third quarter rose by 33.8 per cent to ₹1,160.78 in the financial year 2024-25, compared to ₹867.06 in the same period a year ago. 

IREDA Share Price

Indian Renewable Energy Development Agency (IREDA) shares closed 3.31 per cent lower at ₹215.90 after Thursday's market session, compared to ₹223.30 at the previous market close. The company released the results after market closing hours on Thursday.

The company's shares hit their 52-week high at ₹310 on July 15, 2024, while the 52-week low level was at ₹101.20 on January 10, 2024, as per BSE data. IREDA shares have given more than 100 per cent returns in the last one year. 

Business Insights

The State-owned NBFC's Gross non-performing assets (NPAs) dropped to 2.68% in the third quarter of FY2025, compared to 2.90% in the same period a year ago.

The company's outstanding loan book was at ₹68,960 crore as of the quarter ended December 31, 2024. The outstanding loan book was at ₹50,580 in the same period the previous year.

State-owned Indian Renewable Energy Development Agency (IREDA's) net worth surged 21 per cent to ₹9,842.07 crore in the third quarter, compared to ₹8,134.56 crore in the same period a year ago, as per the BSE filing.

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(This article has been updated to add new information)