IREDA reports all-time high annual net profit of Rs 1,252 crore

New Delhi: Indian Renewable Energy Development Agency Limited (IREDA) has announced its unprecedented audited financial results for the fiscal year 2023-24. IREDA has achieved an all-time high annual profit after tax (PAT) of Rs 1252.23 crore, marking an impressive growth of 44.83 percent over the previous fiscal year 2022-23. The company has successfully reduced its net non-performing assets (NPAs) to 0.99 percent in FY 2023-24 from 1.66 percent in FY 2022-23, demonstrating a significant reduction of 40.52 percent year-on-year.

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The Board of Directors of IREDA commended the company's exceptional performance and sustained growth during a meeting held today at the Registered Office, where they approved the Audited Financial Results for FY 2023-24.

The loan book of IREDA has grown from Rs 47,052.52 crores as on March 31, 2023 to Rs 59,698.11 crores as on March 31, 2024 (registering a growth of 26.81 percent). The company has achieved all-time high annual loan sanctions of Rs 37,353.68 crore and disbursements of Rs 25,089.04 crore in financial year 2023-24, registering an increase of 14.63 percent and 15.94 percent respectively, over previous financial year loan sanctions of Rs 32,586.60 crore and disbursements of Rs 21,639.21 crore. This marks the highest annual loan disbursement and sanction in the company's history.

The net-worth of the company as on 31st March 2024 has reached to Rs. 8,559.43 crore as against Rs 5,935.17 crore, year ending March 31, 2023 (increased by 44.22 percent).

IREDA CMD Pradip Kumar Das expressed his happiness at the remarkable financial results achieved. He emphasized IREDA's steadfast commitment to accelerating the adoption of renewable energy solutions in India, indicating a promising trajectory for investors and stakeholders.

IREDA CMD attributed the company's growth to the unwavering trust and support of its stakeholders while extending gratitude to the Ministry of New & Renewable Energy (IREDA) and Board of Directors for their indispensable support and guidance. He also commended Team IREDA for their dedication and persistent efforts, which significantly contributed to the outstanding financial performance.

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