IREDA Profit Soars, Shares Dip

10 Jan 2025 , 12:18 PM

After the firm announced a 27% year-over-year (YoY) growth in its December quarter net profit, hitting Rs 425.38 crore as opposed to Rs 335.53 crore in the same time last year, Indian Renewable Energy Development Agency (IREDA) shares fell nearly 3% Friday, January 10.

In the meantime, overall revenue from operations increased from Rs 1,252.85 crore in the equivalent quarter of the previous fiscal year to Rs 1,698.45 crore in Q3FY25, a 35.6% year-over-year increase.

The profit after tax (PAT) increased by 10% sequentially from the Rs 387.75 crore recorded in Q2FY25. In the July-September quarter, the topline was Rs 1,629.56 crore, up 4.2% from the previous quarter.

Interest income for the October–December quarter was Rs 1,654.45 crore, up from Rs 1,577.05 crore in Q2FY25 and Rs 1,208.10 crore in Q3FY24, according to IREDA. In the reporting quarter, it generated fees and commission income of Rs 16.46 crore, which was less than what it made in the previous quarter and year. This income was Rs 25.64 crore for the September-ended quarter and Rs 19.88 crore for the same period last year.

From Rs 9.53 crore in Q2FY25 and Rs 16.69 crore in Q3FY24, other income increased to Rs 30.93 crore in Q3FY24.

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