Saturday, May 14, 2022

IREDA posts all-time high net profit in 3-quarters of FY’22

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New Delhi: Indian Renewable Energy Development Agency (IREDA), a PSU under the Ministry of New & Renewable Energy (MNRE), on Monday announced its audited financial results for nine months ended December 31, 2021. During the period, IREDA has posted a total income from operations of Rs 2,136.64 crores and net profit (PAT) of Rs 407.09 crore.

The Board of Directors of IREDA approved the audited financial results for the nine months ended December 31, 2021, in a meeting held on Monday, while lauding the company’s exemplary performance and growth.

On a quarterly basis, IREDA has sanctioned a loan of Rs 1,439.33 crores in Q3 of FY 2021-22 which is 12 percent higher as compared to the corresponding period during FY 2020–21. The company has disbursed a loan of Rs1484.84 crores in Q3 FY2021-22 as against Rs 777.88 crores during Q3 of FY 2020–21.

Commenting on this, IREDA’s Chairman & Managing Director (CMD) Pradip Kumar Das said, "Rs. 407.09 crores is the highest ever PAT in the history of the company, not only for the period of nine months but also even considering the annual profit of the company in the past. Therefore, IREDA has reported its highest ever PAT of Rs 407.09 crores.”

IREDA CMD highlighted that this would not have been possible without the contribution of Team IREDA, who worked untiringly and passionately. He conveyed his sincere gratitude to Power Minister RK Singh and Minister of State, New & Renewable Energy Bhagwanth Khuba for their continuous guidance and support. Das also conveyed his gratitude for the abiding support received by the company from the Secretary & other officials of MNRE and the Board of Directors.

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