IREDA announces results for the first quarter of FY 2022-23

New Delhi: Indian Renewable Energy Development Agency (IREDA) on Tuesday announced audited financial results for the first quarter (Q1) ended June 30, 2022.  The company has posted a Profit Before Tax (PBT) of Rs 339.86 crore, which is 72 percent higher compared to Rs 197.20 crore in the Q1 of the previous financial year.  IREDA's Net Non-Performing Assets (NPAs) have been reduced to 2.92 percent in Q1, FY 2022-23 from 4.77 percent in Q1, FY 2021-22, a significant reduction of 39 percent YoY.

IREDA's Chairman & Managing Director (CMD) Pradip Kumar Das highlighted: "IREDA has not only clocked its highest ever quarterly PBT of 339.86 crore, but also registered a significant reduction in gross and net NPAs, which is a big achievement for any NBFC.

Das highlighted that this would not have been possible without the contribution of team IREDA. He thanked all employees for their consistent hard work and support. He conveyed his sincere gratitude to Union Power Minister RK Singh and Minister of State for New & Renewable Energy Bhagwanth Khuba for their continuous guidance and support. Shri Das also conveyed his gratitude for the abiding support received by the company from the Secretary and other officials of MNRE and the Board of Directors.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)