Indian Renewable Energy Development Agency (IREDA) on April 19 reported 33% jump in consolidated net profit at Rs 337 crore for the quarter ended March 31, 2024. It reported net profit of Rs 254 crore in the year-ago period.
IREDA's credit quality improved as GNPA reduced to 2.36% from 3.21% YoY and NNPA down to 0.99% from 1.66% YoY.
The company's Board approved setting up of a subsidiary company to cater to retail business in RE and emerging sectors such as PM KUSUM, rooftop solar and other B2C segments.
On April 19, IREDA's shares closed trading 1.35% lower at Rs 160.95.
IREDA recently said it has achieved its highest-ever annual loan sanctions and disbursements in the just-concluded financial year 2023-24.
The company has sanctioned loans amounting to Rs 37,354 crore and disbursed loans worth Rs 25,089 crore during the fiscal year. This has led to a significant growth of 26.71% in the loan book, which now stands at Rs 59,650 crore.
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