Indian Renewable Energy Development Agency Ltd. (IREDA) has released its audited financial results for the first quarter of the fiscal year 2024-25. As the largest dedicated green financing Non-Banking Financial Company (NBFC) in India, IREDA set a new industry benchmark by publishing its audited results within just 12 days. This achievement also establishes IREDA as the first Central Public Sector Enterprise (CPSE) to promptly declare results, setting the fastest record for publishing audited results in the banking and NBFC sector.
For the first quarter of FY 2024-25, IREDA reported a Profit After Tax of Rs 383.69 crore, reflecting a notable 30.25% year-on-year growth. Additionally, the company has successfully lowered its Net Non-Performing Assets (NPAs) to 0.95%, compared to 1.61% in the same period of the previous fiscal year.
During a board meeting held in Bhubaneswar, Odisha, IREDA’s Board of Directors lauded the company’s outstanding performance and continued growth, approving the audited financial results for Q1 FY 2024-25. As of June 30, 2024, the company’s net worth reached Rs 9,110.19 crore, up from Rs 6,290.40 crore, marking a 44.83% year-on-year increase.
