IREDA Q3FY25: Net Profit Rises 27% Amid Record Revenue Growth!

IREDA announces impressive profit growth in Q3 FY25, with a net profit of ₹425.38 crore, reflecting a 27% YoY increase. Discover more about IREDA’s financial performance!

ireda shares in focus after q3 pat jumps 27 yoy to rs 425 crore

The Indian Renewable Energy Development Agency (IREDA) is in the spotlight after announcing a 27% increase in its profit for the December quarter. The profit reached ₹425.38 crore, compared to ₹335.53 crore from the same time last year.

In the third quarter of FY25 (Q3FY25), IREDA’s total revenue from its operations jumped by 35.6% from a year ago, reaching ₹1,698.45 crore, up from ₹1,252.85 crore in Q3FY24. Compared to the previous quarter, the profit (PAT) grew by 10%, going from ₹387.75 crore in Q2FY25 to the current ₹425.38 crore. The total revenue also saw a 4.2% increase from ₹1,629.56 crore in the prior quarter.

Revenue Breakdown for Q3FY25

In the October-December quarter, IREDA earned ₹1,654.45 crore from interest income, up from ₹1,577.05 crore in Q2FY25 and ₹1,208.10 crore in Q3FY24. However, it earned ₹16.46 crore from fees and commissions, which was lower than previous quarters.

Other notable income grew significantly, with total other income in Q3FY25 at ₹30.93 crore, a rise from ₹9.53 crore in Q2FY25 and ₹16.69 crore in Q3FY24.

IREDA’s Expenses

The company spent ₹1,160.78 crore in the December quarter, which is lower than the previous quarter (₹1,170.48 crore) but higher than last year’s ₹867.06 crore. This amount includes costs for loan interest, employee salaries, and other expenses.

Debt and Asset Quality

As of December 31, 2024, IREDA’s debt-to-equity ratio increased to 5.89 from 5.13 a year earlier. Its asset quality is also worth noting; the Gross Non-Performing Assets (NPAs) rose to ₹1,845 crore but dropped as a percentage of total advances to 2.68%, down from 2.90% last year.

Outstanding Loans and Stock Performance

IREDA’s outstanding loans reached ₹68,960 crore, up by 36% from ₹50,580 crore last year.

For stock market fans, IREDA’s share price closed at ₹215.9, down 3.3%. Although the stock has dipped 10% over the past six months, it gained a whopping 109% over the last year. The average target price for IREDA shares is ₹205, which suggests it might drop by about 5% from where it currently stands. The consensus from analysts is to ‘Hold’ on to the stocks.

Comments

Leave a Reply