IREDA Q1 Results announced for FY25, the Board of Directors of Indian Renewable Energy Development Agency Ltd (IREDA) today approved the Audited Financial Results for the first quarter of FY 2024-25. The IREDA net worth has jumped Rs. 9,110.19 crore, up from Rs. 6,290.40 crore, this shows YoY growth of 44.83% as of 30th June 2024.
Shri Pradip Kumar Das, Chairman & Managing Director of IREDA, expressed his happiness and emphasized IREDA’s steadfast commitment to accelerating the adoption of renewable energy solutions in India at the remarkable IREDA Q1 Results. CMD, IREDA attributed the company’s growth to unwavering trust and support of stakeholders.
IREDA Q1 Results FY25 Highlights:
- Robust Financial Performance: IREDA Q1 Results reported a strong Q1 FY25, with significant growth in key financial metrics.
- Revenue Growth: Total revenue increased by 32.11% year-on-year (YoY), driven by higher loan disbursements and improved interest income. Revenue jumped at Rs. 1,510.71 crore as against Rs. 1,143.50 crore.
- Net Profit Jump: Net profit surged by 30.25% YoY, reflecting improved operational efficiency and higher profitability. Net Profit is at Rs. 383.69 crore as against Rs. 294.58 crore (up by 30.25%)
- Loan Sanctions: Loan sanctions increased by 386.68% YoY, up at Rs. 9,210.22 as against 1,892.45 crore indicating a strong demand for IREDA’s financing solutions in the renewable energy sector.
- Loan Disbursements: Loan disbursements grew by 67.84% YoY, up at Rs. 5,325.88 crore as against 3,173.27 crore, demonstrating IREDA’s commitment to supporting the growth of renewable energy projects in India.
- Net worth: Net Worth of IREDA sour 44.83% up at Rs. 9,110.19 crore as against Rs. 6,290.40 crores.
- Loan Book: IREDA Loan Book up by 33.89% up at Rs. 63,206.78 crore as against Rs. 47,206.66 crore
Strong Outlook: IREDA Q1 Results maintains a positive outlook for the future, with a focus on expanding its loan portfolio and supporting the Indian government’s ambitious renewable energy targets.
IREDA Share Price Performance: NSE: IREDA Stock to Watch
- Strong Growth in 2024: IREDA shares have surged significantly in 2024, rising by around 183% year-to-date and 394% in the last year.
- New Lifetime Highs: The stock has been hitting new lifetime highs ahead of the Q1 FY25 results announcement on July 12, 2024.
- Strong Q1 Results: The IREDA reported robust Q1 results, with revenue growth of 32% and a net profit jump of 30%, further boosting investor confidence.
- Positive Outlook: The IREDA strong performance and positive outlook for the renewable energy sector in India have contributed to its impressive stock performance.
- Investor Confidence: IREDA’s strong financials, ambitious growth plans, and government support have attracted investors, leading to increased demand for its shares.
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Overall, IREDA’s share price performance has been very positive, reflecting the company’s strong fundamentals and growth potential in the renewable energy sector. Analysts had anticipated strong IREDA Q1 Results, citing the company’s robust loan book and favorable industry trends.