Shares of Indian Renewable Energy Development Agency (IREDA) climbed over 3% in morning trade after the state-run renewable energy financier reported a strong set of Q3 FY26 results. The rally came on the back of healthy year-on-year growth across revenue and profitability, along with a noticeable sequential improvement in asset quality, reinforcing investor confidence in the company’s operating momentum.
For the quarter ended December 31, 2025, IREDA’s total revenue rose to Rs 2,139 crore, marking a solid increase from Rs 1,698 crore in Q3 FY25. Revenue also improved sequentially from Rs 2,057 crore reported in Q2 FY26, reflecting steady business traction and continued demand for renewable energy financing.
Profitability remained robust during the quarter. Profit before tax stood at Rs 717 crore, compared with Rs 538 crore in the corresponding quarter last year and Rs 696 crore in the previous quarter. Profit after tax came in at Rs 585 crore, up from Rs 425 crore in Q3 FY25 and higher than Rs 549 crore recorded in Q2 FY26. The numbers indicate strong annual growth supported by a modest but consistent quarter-on-quarter improvement.
On the asset quality front, trends were mixed on a year-on-year basis but encouraging sequentially. Gross non-performing assets were reported at 3.75%, higher than 2.68% in Q3 FY25, but improved from 3.97% in the September quarter. Net non-performing assets stood at 1.68%, compared with 1.50% a year ago, but declined meaningfully from 1.97% in Q2 FY26.
