IREDA Q1 Update: PAT slips 36%; interest income grows 29%

11 Jul 2025 , 01:11 PM

Indian Renewable Energy Development Agency (IREDA) announced its results on Thursday and posted a 36% y-o-y decline in its Q1FY26 standalone net profit at ₹247 Crore. In the same quarter, year-ago the business logged a net profit of ₹384 Crore. 

However, the company’s interest income registered a growth of 29% to ₹1,909 Crore versus ₹1,483 Crore in the previous corresponding period.

The business noted that its profit after tax (PAT) tumbled more sharply on a sequential basis by about 51%. In the previous quarter, the business reported a net profit of ₹502 Crore. The business said that its topline witnessed a marginal 2.6% growth on a quarter-on-quarter basis against ₹1,861 Crore posted in Q4FY25.

The profit slipped on account of increased expenses incurred by the company in the quarter under review.

IREDA also reported that it has received an interim SEBI report on April 16, 2025. This highlights irregularities in the operations of its borrower, Gensol Engineering Limited (GEL). 

During the quarter under review, the company incurred expenses of ₹1,655 Crore. This was nearly 60% higher than ₹1,035 Crore reported in the same quarter of previous financial year.

The company incurred expenses under various heads such as finance cost, Net Translation/Transaction Exchange Loss/(Gain) and Employee Benefits Expenses among other things.

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