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IREDA declares dividend of Rs 128 crore at 32nd AGM

At its 32nd Annual General Meeting, IREDA, a PSU under the Ministry of New and Renewable Energy, declared a dividend of Rs 128.19 crore
New Delhi: At its 32nd Annual General Meeting (AGM) on Monday, Indian Renewable Energy Development Agency Limited (IREDA), a PSU under the Ministry of New and Renewable Energy (MNRE), declared a dividend of Rs 128.19 crore. During FY 2018-19, the PSU has sanctioned loans of Rs 11,941.87 crores and disbursed Rs 9,385.37 crores for renewable energy projects. Projects sanctioned by IREDA during the year are expected to result in renewable energy capacity addition of 3266.37 MW, IREDA's CMD Parveen Kumar said. The meeting was chaired by IREDA’s CMD.

Financial performance of IREDA in FY19

At the meeting, Kumar highlighted the financial performance of the company for the fiscal year 2018-19. Addressing the directors and shareholders, he said that in FY-2018-19, gross income of the company has increased to Rs 2,022.79 crores and the company has registered a growth of 11.56 percent.

Highlights of FY2017-18

IREDA had registered a total income of Rs 1,780.02 crores in FY 2017-18. The company's profit before tax (PBT) was Rs 560.75 crore and profit after tax (PAT)  stood at Rs 393.20 crore. IREDA had paid a total dividend of Rs 126.84 crore to the government in FY 2017-18.