Indian Renewable Energy Development Agency (IREDA) reported its Q3 FY25 financial results, showcasing robust growth in both profitability and revenue. The company’s net profit (PAT) for the December quarter rose 27% year-on-year (YoY) to ₹425.38 crore, up from ₹335.53 crore in Q3 FY24. Revenue from operations surged 36% YoY to ₹1,698.45 crore, compared to ₹1,252.85 crore in the corresponding quarter of the previous fiscal year.
On a sequential basis, the company also demonstrated strong growth:
- PAT grew by 10% QoQ, up from ₹387.75 crore in Q2 FY25.
- Revenue saw a 4.2% QoQ increase, up from ₹1,629.56 crore in the previous quarter.
The earnings were announced after market hours. Shares of IREDA closed at ₹215.75, down 3.42%.
Key Financial Highlights:
- Revenue Breakdown:
- Interest Income: ₹1,654.45 crore (up from ₹1,577.05 crore in Q2 FY25 and ₹1,208.10 crore in Q3 FY24).
- Fees & Commission Income: ₹16.46 crore (down from ₹25.64 crore in Q2 FY25 and ₹19.88 crore in Q3 FY24).
- Expenses:
- Total expenses stood at ₹1,160.78 crore, down from ₹1,170.48 crore in Q2 FY25 but higher than ₹867.06 crore in Q3 FY24.
- Expenses include finance costs, employee benefits, and CSR activities.
- Operating Profit:
- Operating profit (before depreciation, impairment, and tax) increased 51% YoY, reaching ₹652 crore compared to ₹432 crore in Q3 FY24.
- Asset Quality:
- Gross NPA: ₹1,845 crore (2.68% of total advances) vs. ₹1,465 crore (2.90%) in Q3 FY24.
- Net NPA: ₹1,024 crore (1.50%) vs. ₹757 crore (1.52%) in Q3 FY24.
- Loan Book Growth:
- Outstanding loan book stood at ₹68,960 crore as of December 31, 2024, up 36% YoY from ₹50,580 crore in Q3 FY24.
- Debt-to-Equity Ratio:
- The debt-to-equity ratio rose to 5.89 as of December 31, 2024, compared to 5.13 a year ago.
9MFY25 Performance:
- Revenue: ₹4,714.25 crore (up 35% YoY from ₹3,493.79 crore in 9MFY24).
- Net Profit: ₹1,196.81 crore (up 31% YoY from ₹914.85 crore).
