Profit before tax was at Rs 459.91 crore in second quarter of FY25, registering a growth of 21.06% YoY.

Operating profit (before Depreciation, impairment & Tax) stood at Rs 503.19 crore in September 2024 quarter, up 36% YoY.

Cost of borrowings declined to 7.80% in Q2 of FY25 from 7.85% posted in same quarter previous year.

Interest income stood at Rs 1,577.05 crore in Q2 FY25, up 36.78% from Rs 1,152.95 crore recorded in Q2 FY24. Net interest margin increased to 3.34% in Q2 FY25 from 3.17% registered in Q2 FY24.

Yield on loan assets (gross) stood at 9.92% as on 30 September 2024 as compared with 9.77% as on 30 September 2023.

CRAR declined to 20.24% as on 30 September 2024 as against 20.92% as on 30 September 2023. Provision coverage ratio (Stage III) stood at 52.98% as on 30 September 2024 as compared with 48.11% as on 30 September 2023.

On half year basis, the company’s net profit jumped 33.17% to Rs 771.44 crore on 35.35% rise in revenue from operation to Rs 3139.83 crore in Q2 FY25 over Q2 FY24.

IREDA is a wholly owned Government of India (GoI) enterprise under the administrative control of the Ministry of New and Renewable Energy (the MNRE). It is also conferred with the Mini Ratna (Category-I) status. As on March 2024, GoI held 75% stake in IREDA.

The scrip rose 0.28% to currently trade at Rs 234.40 on the BSE.