IREDA Q1 Results: Profit Rises 30% To Rs 384 Crore
Indian Renewable Energy Development Agency Ltd. on Friday reported a 30% increase in its net profit on a yearly basis, for the first quarter of the financial year ending March 2025.
The non-banking financial institution reported a bottom line of Rs 384 crore in the April-June quarter, as compared to Rs 295 crore registered during the same period last year, according to its stock exchange notification.
Revenue of the pure-play green financing NBFC rose 32% year-on-year to Rs 1,511 crore in comparison to Rs 1,143 crore reported in the same period last year.
IREDA's sanctioned loans surged to Rs 9,136 crore in the quarter-ended June. It recorded loan disbursements of Rs 5,320 crore in the June quarter, a growth of 68% in comparison to Rs 3,174 crore in the year-ago period.
The total loan book outstanding as of June 30, 2024 was at Rs 63,150 crore, up 33.77% over Rs 47,207 crore in April-June FY24, according to the company's statement on July 1.
Shares of IREDA rose on Friday and closed 0.20% higher at Rs 284.26 apiece, as compared with a 0.81% gain in the country's benchmark NSE Nifty 50. The stock had risen as much as 7% during the trading session to hit an all-time high for the second consecutive day. The scrip has risen 374% since it listed in November.
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High US Salaries, No Green Card Certainty: The Financial Calculation Facing Indian H-1B Families
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Swiggy vs Eternal: Food Delivery's Two Rivals Are No Longer In The Same Race
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Two-wheelers are the most popular way to get to work in India, accounting for nearly 43% of workplace commutes.
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Unhedged Position: Can India See An Indonesia-Style Time Correction?
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Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
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India Exports Capital. Why Not Export Trusteeship?
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France's Economy & Politics Are In Crisis | The Reason Why
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You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
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Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
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FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
