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Hot Pursuit
01-Jan-25
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IREDA climbs after loans sanction spurts YoY to Rs 31,087 cr
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Indian Renewable Energy Development Agency (IREDA) jumped 3.97% to Rs 223.70 after the company’s loan sanctioned surged 129% to Rs 31,087 crore as on 31 December 2024 as compared with Rs 13,558 crore as on 31 December 2023.
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Loan disbursements for the December 2024 stood at Rs 17,236 crore, up 41% as against with Rs 12,220 crore reported in the same period a year ago.
The outstanding loan book was at Rs 69,000 crore for the December 2024, registering a growth of 36% as compared with Rs 50,580 crore posted in same period a year ago.
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.
Indian Renewable Energy Development of India (IREDA) reported standalone net profit of Rs 387.75 crore in Q2 FY25, registering a growth of 36.18% as agaisnt Rs 284.73 crore posted in Q2 FY24. Revenue from operations increased 38.49% year on year (YoY) to Rs 1,629.55 crore in the quarter ended 30 September 2024.
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