Ireda Q1FY25 results: Net profit surges over 30% to Rs 383.69 crore

Indian Renewable Energy Development Agency (Ireda) on Friday reported over 30 per cent growth in its net profit to Rs 383.69 crore for the June quarter, mainly on the back of higher revenues.

"IREDA has achieved Profit After Tax of Rs 383.69 crore (in Q1), marking an impressive year-on-year growth of 30.25 per cent," a company statement said.

According to the statement, its net profit was Rs 294.58 crore in the quarter ended on June 30, 2023.

As the largest pure-play green financing NBFC in the country, it stated that Ireda achieved a new industry standard by publishing its audited financial results within only 12 days.

This milestone also marks Ireda as the first central public sector enterprise (CPSE) to promptly declare results and achieve the fastest publication of audited results in the banking and NBFC space, it added.

The company has successfully reduced its net non-performing assets to 0.95 per cent in the first quarter of FY 2024-25 from 1.61 per cent in the same quarter