Sunday, August 7, 2022

IREDA FY21 results: IREDA net profit goes up by 61%

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New Delhi: Indian Renewable Energy Development Agency (IREDA) has posted a Profit After Tax (PAT) of Rs 346 crore as against Rs 215 crore in the previous financial year, registering a growth of 61 percent. Also, the company has reported an all-time high annual profit before tax (PBT) of Rs 570 crore in a year that was marred by the COVID-19 pandemic. The PBT of the company was Rs 241 crore during FY20.

The Board of Directors of IREDA approved the audited financial results for Financial Year 2020-21 in a meeting while lauding the company’s all-round improvement under challenging conditions.

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The loan book of IREDA has also grown from Rs 23,548 crore, as on March 31, 2020, to Rs 27,854 crore, as on March 31. The loan disbursement of Rs 8,827 crore is the second-highest in the company’s history. The net worth of the company as on March 31 this year has reached Rs 2,995 crore as against Rs 2,521 crore on March 31, 2020.

Speaking on the occasion, IREDA’s Chairman & Managing Director (CMD) Pradip Kumar Das said that the remarkable achievements of FY 2020-21 would not have been possible without the government’s active support and guidance. He conveyed his sincere gratitude to Power Minister RK Singh for his continuous guidance and facilitation. Das also placed on record the gratitude of the company for the abiding support received from the MNRE Secretary, Board of Directors and senior officials of MNRE. The CMD lauded the dedicated team of employees of IREDA for their commitment and efforts that made the high level of results possible.

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