IREDA Q1 profit jumps 37% to Rs 337 crore as loan book nears Rs 95,000 crore

New Delhi: State-owned Indian Renewable Energy Development Agency Ltd (IREDA) on Monday reported a 37 percent year-on-year rise in net profit for the June quarter, driven by healthy growth in lending, higher interest income and a sharp improvement in asset quality, reflecting sustained momentum in India's clean energy financing market.

The company's profit after tax (PAT) rose to Rs 337 crore in the first quarter of FY27 from Rs 247 crore in the corresponding period last year.

Revenue from operations increased 15 percent to Rs 2,250 crore during the quarter, compared with Rs 1,960 crore a year earlier, supported by the continued expansion of its loan portfolio.

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IREDA's loan book grew 19 percent year-on-year to Rs 94,936 crore as of June 30, 2026, from Rs 79,941 crore a year ago, underscoring robust demand for financing across renewable energy segments, including solar, wind, hydro, green hydrogen and emerging clean energy technologies.

The company's financial position also strengthened during the quarter, with its net worth rising to Rs 14,133 crore from Rs 12,402 crore in the year-ago period, providing additional capital to support future lending.

Asset quality continued to improve, with net non-performing assets (NPAs) declining to 1.23 percent from 2.06 percent a year earlier, indicating better recoveries and tighter credit monitoring despite rapid expansion in the loan portfolio.

The results come at a time when India is accelerating investments in renewable energy infrastructure to achieve its target of 500 GW of non-fossil fuel-based installed power capacity by 2030. As the country's largest dedicated green financing institution, IREDA has emerged as a key lender for both public and private sector clean energy projects.

Commenting on the performance, Chairman and Managing Director and Director (Finance) Bijay Kumar Mohanty said the quarterly results reflected the company's strong business fundamentals and disciplined growth strategy.

"Our Q1 FY27 performance reflects the continued strength of IREDA's business fundamentals and focus on quality growth. The 37 percent increase in net profit, along with 19 percent growth in the loan book, underscores the sustained demand for renewable energy financing across the country," he said.

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Mohanty added that the decline in net NPAs to 1.23 percent from 2.06 percent demonstrated the effectiveness of the company's risk management framework and monitoring mechanisms.

The continued growth in lending and improvement in asset quality are likely to strengthen IREDA's position as the government's principal financing arm for the energy transition, even as competition in green financing intensifies with commercial banks and other financial institutions increasing their exposure to the renewable energy sector.

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