Ireda Q1 Results: Profit Slips 36% Despite Rise In Net Interest Income

Indian Renewable Energy Development Agency Ltd. posted a 36% slide in its consolidated net profit during the quarter ended June 31, 2025.

The company posted a bottom line of Rs 247 crore during the quarter under review, as compared to Rs 384 crore in the year-ago period, according to an exchange filing on Thursday.

• NII up 36% at Rs 691 crore versus Rs 508 crore.

• Net profit down 35.7% at Rs 247 crore versus Rs 384 crore.

Earlier this month, the company issued its quarterly business update that showed a 29% rise in its loan book during the April-June period.

Sanctioned loans amounted to Rs 11,740 crore, compared to Rs 9,136 crore in the same period last year. Loan disbursements increased 31% year-on-year to Rs 6,981 crore.

The non-banking financial company's outstanding loan book reached Rs 79,941 crore as of June 30, 2025, marking a rise of 27% as compared to Rs 7,6282 crore in the year-ago period.

The outstanding borrowings that contribute 85% of the borrowings stood at Rs 56,318 crore, while foreign borrowings stood at 10,080 crore.

Additionally, the state-owned company on Thursday said bonds issued by the company will be exempt from tax, a development that is expected to attract more investments for renewable energy projects.

This move is expected to attract wider participation from investors seeking tax-saving instruments and strengthen the renewable energy financing ecosystem in the country.

The business update was shared after market hours. The stock settled 2.25% higher at Rs 169.64 apiece on the NSE, compared to a 0.47% decline in the benchmark Nifty 50.

Ireda's shares have fallen 31.40% over the past 12 months and 21.19% year-to-date. The share price of Ireda has risen 180% since it went public in November 2023.