The shares of a state-owned financial institution that supports the development of renewable energy and energy efficiency projects in India 7 percent upon following the Q4 results with a 49 percent rise in Profit YoY
Price action
With a market capitalization of Rs. 47,156.83 crores on Wednesday, the shares of Indian Renewable Energy Development Agency Limited jumped up to 7.4 percent, making a high of Rs. 179.50 per share compared to its previous closing price of Rs. 167.10 per share.
What Happened
Indian Renewable Energy Development Agency Limited, engaged in providing financial assistance to renewable energy projects, has announced its Q4FY25 results.
Its Revenue from operations grew by 37 percent YoY from Rs. 1,391 Crores in Q4FY24 to Rs. 1,905 Crores in Q4FY25 and it grew by 12 percent QoQ from Rs. 1,698 Crores in Q3FY25 to Rs. 1,905 Crores in Q4FY25.
Its Net Profit grew by 49 percent YoY from Rs. 337 Crores in Q4FY24 to Rs. 502 Crores in Q4FY25 and it grew by 18 percent QoQ from Rs. 425 Crores in Q3FY25 to Rs. 502 Crores in Q4FY25.
Key Highlights of Q4
The company earned Rs. 862 crore in interest income during the January-March quarter, up from Rs. 1,329 crore in the same period last year. In the previous quarter, IREDA had earned Rs. 1,645 crore in interest income.
Interest income as a percentage of the total loan book was 2.45 percent, down from 2.68 percent in Q3 FY25 but higher than 2.36 percent in Q4 FY24. The total loans outstanding at the end of March FY25 were Rs. 76,282 crore, compared to Rs. 59,698 crore in March FY24, showing a 28 percent increase year-on-year.
About the company
IREDA is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987 engaged in providing financial assistance to renewable energy projects, companies, and manufacturers in India for power generation, equipment supply and fuel source projects including wind power, solar power, hydropower, biomass, co-generation and waste to energy as well as energy efficiency and conservation.
Written by Sridhar J
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