Q3 Results impact: IREDA shares jump 4% on strong profit growth; Tejas Networks down 13% as firm posts loss

Q3 Results impact: IREDA shares jump, Tejas Networks shares fall

• IREDA shares rose over 4 percent after strong Q3 results and profit growth
• Tejas Networks shares fell 13 percent to a 52-week low after reporting net loss
• IREDA's net profit up 37.5 percent YoY; Tejas Networks revenue down 88 percent

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The shares of Indian Renewable Energy Development Agency (IREDA) jumped more than 4 percent on January 12 after the company released its results for the third quarter of the ongoing financial year 2026. Tejas Networks shares meanwhile tumbled 13 percent to a record low level.

IREDA shares rose to Rs 142.3 apiece on Monday, snapping a two-session losing streak. Tejas Networks shares meanwhile dropped around 13 percent to hit a fresh 52-week low of Rs 364.25 apiece.

IREDA Q3 Results:

IREDA on January 9 reported a standalone net profit of Rs 584.91 crore for the October-December quarter of FY26. This marks a 37.5 percent year-on-year (YoY) increase from the Rs 425.38 crore net profit reported in the same period of the previous financial year.

The firm’s revenue from operations meanwhile rose more than 25 percent YoY to Rs 2,129.87 crore during the quarter under review, from Rs 1,698.45 crore in the corresponding quarter of the previous financial year.

IREDA’s outstanding loan book increased 28 percent YoY to Rs 87,975 crore, while net worth rose 38 percent YoY to Rs 13,537 crore. Asset quality however deteriorated, with net non-performing assets (NPA) margin rising from 1.5 percent to 1.68 percent.

The company’s strong December quarter performance was driven by healthy sanctions and robust disbursements across solar, state utilities, and ethanol segment, ICICI Direct Research said. Meanwhile, net interest income grew nearly 40 percent on year, supported by balance sheet expansion and the company saw an improvement with its interest spread at 2.63 percent, according to the brokerage.

ICICI Direct Research said that despite temporary stress in Q1, IREDA’s Q3 performance confirms normalisation in margins, asset quality and earnings. It added that long-term structural growth story for renewable financing remains intact, supported by balance sheet growth, stable margins and sustained asset quality.

“IREDA reported strong Q3 FY26 results with significant profit growth and improved asset quality sequentially. The renewable energy financier saw robust loan book expansion amid rising disbursements. Outlook remains positive, supported by renewable energy sector momentum,” said Khushi Mistry, Research Analyst at Bonanza.

Tejas Networks Q3 Results:

Tejas Networks on January 9 reported a consolidated net loss of Rs 196.55 crore for Q3 FY26, as against a net profit of Rs 165.67 crore reported in Q3 FY25. Sequentially however, the net loss narrowed from the Rs 307.13 crore reported in Q2 FY26.

The firm’s revenue from operations meanwhile tumbled more than 88 percent to Rs 306.79 crore in the December-October quarter of the ongoing financial year 2026.

The Tata Group company said that it ended Q3 FY26 with an order book of Rs 1,329 crore. “Our net debt was Rs 3,349 crore compared to Rs 3,738 crore in Q2 FY26 mainly due to lower working capital, partly offset by capex, gross debt of Rs 3,885 crore and cash of Rs 537 crore,” said Tejas Networks CFO Sumit Dhingra.

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