Saturday, May 21, 2022

IREDA records all-time high net profit of Rs 634 crore in FY’22

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New Delhi: Indian Renewable Energy Development Agency (IREDA) reported a historic all-time high annual profit after tax (PAT) of Rs 634 crores and profit before tax (PBT) of Rs 834 crores in the FY 2021-22 in midst of the second and third waves of COVID-19 Pandemic during the year, registering a massive growth of 82.88 percent and 46.41 percent, respectively over FY 2020-21. 

The Board of Directors of IREDA approved the audited financial results for the financial year 2021-22 in a meeting held on April 30 while lauding the company’s outstanding performance under challenging conditions.

The Loan Book of IREDA, has grown from Rs 27,854 as on March 31, 2021, to Rs 33,931 crores as on March 31, 2022 (registering a growth of 21.82 percent). The company registered the highest-ever loan sanction of Rs 23,921 crores (growth of 117.44 percent to the previous year sanction of Rs 11,001 crores).

The loan disbursement of Rs 16,071 crore is the highest in the company’s history and a record increase by 82 percent from the previous year. The net worth of the company as on March 31, 2022, has reached Rs 5,268 crores as against Rs 2,995 crores ending March 31, 2021 (an increase by 75.89 percent), which includes equity infusion of Rs 1,500 crores on March 28, 2022, by the Government.

On this occasion, IREDA's Chairman & Managing Director (CMD) Pradip Kumar Das conveyed his sincere gratitude to the PMO, MNRE, Ministry of Finance among others for constantly guiding IREDA and extending its support at every juncture, especially for realising the awaited equity infusion. He conveyed his sincere gratitude to Union Power Minister RK Singh of Power, New and Renewable Energy and Minister of State, New and Renewable Energy Bhagawanth Khuba for their continuous guidance and facilitation. Das also placed on record the gratitude of the company for the abiding support received from MNRE's Secretary, Senior Officials of MNRE and Board of Directors of IREDA.

He further mentioned that the remarkable achievements would not have been possible without the regular cooperation and support of Statutory Auditors, RBI, and other stakeholders. Shri Das lauded the dedicated team of employees of IREDA for their commitment and relentless efforts that made the high level of results possible. He also reiterated that, "IREDA promotes transparency, good governance and a proactive approach to ensure that the entire value chain in the operations of IREDA is happy and proudly sustains the feeling of ‘Once IREDA, Always IREDA’."

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