IREDA Q3 Results- PAT Up 26.7% on 25% Rise In Disbursements

Indian Renewable Energy Development Agency Ltd. (IREDA) has announced its financial results for the third quarter of FY 2024-25, showcasing significant growth across key financial metrics. As the nation’s largest pure-play Green Financing NBFC, IREDA has been focusing on publishing its Quarterly Audited Financial Results quickly, in this case within just 9-days.

Key Highlights of Q3 FY 2024-25:

Revenue from Operations: Achieved ₹1,698.99 crore, 35.57% increase compared to ₹1,253.20 crore in Q3 FY 2023-24. On a sequential basis, this is a 4.2% rise over the Rs 1630 crores revenue recorded in Q2, Fy25. 

Profit Before Tax (PBT): Stood at ₹538.20 crore, marking a growth of 39.38% from ₹386.14 crore in the corresponding quarter of the previous fiscal year

Profit After Tax (PAT): Recorded ₹425.37 crore, reflecting 26.77% rise from ₹335.54 crore in Q3 FY 2023-24. However, on a quarter-on-quarter basis, growth has been just over 9%, when compared to the Rs 387 crores profit  in Q2.

Loan Sanctions: Amounted to ₹13,226.81 crore, a remarkable 45.01% growth compared to ₹9,121.11 crore in Q3 FY 2023-24

Loan Disbursements: Reached ₹7,448.96 crore, up by 25.27% from ₹5,946.45 crore in the same period last year

Loan Book: Expanded to ₹68,959.61 crore, showing a 36.34% increase compared to ₹50,579.67 crore in Q3 FY 2023-24

Net Worth: Strengthened to ₹9,842.07 crore, registering a 20.99% growth from ₹8,134.56 crore in Q3 FY 2023-24

The picture looks encouraging, as it should considering the rise seen in renewable capacity additions, tenders and projects in the pipeline as well. IREDA  faces the challenge of meeting upto high investor expectations, something it has clearly set out to do by demonstrating strong governance norms. The challenge will be to maintain the kind of growth metrics it has demonstrated since the past year, as margin pressure and interest rate risks remain a real risk. Competition is also intensifying thanks to better access to capital markets for many of the larger borrowers, besides the improving abilities of banks and other financial institutions to evaluate green energy projects.