Indian Renewable Energy Development Agency Ltd. posted a net profit of Rs 425 crore in the quarter ended Dec. 31, 2024, an increase of 26.7% year-on-year.
In the same quarter of the previous fiscal, Ireda had posted a net profit of Rs 336 crore.
The non-banking financial institution's revenue rose 35.6% to Rs 1,699 crore during the October–December period, compared to Rs 295 crore in the year-ago period, according to an exchange filing on Thursday.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
For the December quarter, Ireda registered a 41% year-on-year growth in loan disbursements to Rs 17,236 crore from Rs 12,220 crore in the same period last year. The company also posted a 129% increase in loan sanctions to Rs 31,087 crore, compared to Rs 13,558 crore in the corresponding period of 2023.
As a result of this surge in activity, Ireda's outstanding loan book reached Rs 69,000 crore as of Dec. 31, 2024, a 36% rise from Rs 50,580 crore a year ago.
Shares of Ireda ended 3.26% lower at Rs 216.09 apiece on the National Stock Exchange ahead of the results, compared to a 0.69% decline in the benchmark Nifty. The share price has advanced 109.19% in the last 12 months.
One of the two analysts tracking the company has a 'buy' rating on the stock and another suggests 'sell', according to Bloomberg data. The average of 12-month consensus price target implies a potential upside of 29.6%.
Get live result updates here.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.