Indian Renewable Energy Development Agency Limited (IREDA) announced its unaudited financial results for the second quarter and half-year ending September 30, 2024, during a board meeting held on October 10, 2024. The company demonstrated solid financial performance with notable growth in key areas.
Key Financial Highlights for Q2 FY24:
- Total Income: ₹1,560.10 crore, marking an increase from ₹1,422.23 crore in the same quarter last year.
- Profit Before Tax (PBT): ₹565.80 crore, reflecting a significant rise from ₹498.15 crore year-on-year (YoY).
- Profit After Tax (PAT): ₹424.85 crore, a 13% YoY increase from ₹376.24 crore in Q2 FY23.
Financial Highlights for H1 FY24:
- Total Income for H1: ₹3,080.64 crore, compared to ₹2,746.47 crore for the same period last year.
- Profit Before Tax (PBT) for H1: ₹1,100.30 crore, an improvement from ₹931.15 crore in H1 FY23.
- Profit After Tax (PAT) for H1: ₹822.50 crore, a rise from ₹702.34 crore YoY.
Additional Highlights:
- Net Worth: ₹5,255.85 crore as of September 30, 2024, showcasing steady growth.
- Capital Adequacy Ratio: The company’s capital adequacy ratio remains strong at 23.42%, far above the regulatory requirements.
IREDA’s strong financial performance reflects the company’s commitment to fostering renewable energy projects across India, amidst increasing demand for clean energy solutions. The company continues to show consistent growth, contributing to the renewable energy sector while maintaining profitability.
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