New Delhi: Indian Renewable Energy Development Agency (IREDA), a PSU under the Ministry of New & Renewable Energy (MNRE), has posted a total income from operations of Rs 684.80 crore and profit after tax (PAT) of Rs 110.27 crore for Q2 of FY22. The company has reported an all-time high half-yearly PAT of Rs 299.90 crore.
The board of directors of IREDA approved the audited financial results for H1 and Q2 FY22, ending September 30, in a meeting, while lauding the company’s performance and growth.
Highlights of IREDA's H1 FY22 results
IREDA has registered an all-time high profit after tax (PAT) of Rs 299.90 crore against Rs 206.63 crore. Total income from operations has also gone up by 8 percent to Rs 1,386.97 crore against Rs 1,284.94 crore.
The company has also recorded a significant reduction in net NPA of 4.87 percent, against 5.79 percent (reduction by 16 percent). The net worth of the company has also gone up by 22 percent to Rs 3,333.19 crore against Rs 2,742.98 crore.
Highlights of IREDA's Q2 FY22 results
During the period, IREDA has sanctioned loans of Rs 5,925.12 crore against Rs 1,172.32 crore (up by 405 percent) and disbursed total loans of Rs 3,584.90 crore against Rs 2,041.34 crore (up by 76 percent).
IREDA’s Chairman & Managing Director (CMD) Pradip Kumar Das lauded the dedication of IREDA's employees and has said that it would not have been possible without the government’s active support and guidance. He conveyed his sincere gratitude to Power Minister RK Singh and MoS Bhagwanth Khuba for their continuous guidance and support. Das also conveyed his gratitude for the abiding support received by the company from the Secretary, MNRE, Board of directors and senior officials of MNRE. He underlined that the collective and focussed efforts of team IREDA is rewarded by record high-yearly profit.
(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.)