Shares of Indian Renewable Energy Development Agency (IREDA) are expected to remain in focus today, Friday, January 10, following the company’s Q3 FY25 financial results, which were announced after market hours on Thursday. While the state-run renewable energy financier posted growth in profit and net interest income (NII), a decline in asset quality raised concerns.
Key Highlights of IREDA Q3 Results:
- Net Interest Income (NII):
- Increased by 39% YoY to ₹622.25 crore.
- Net Profit:
- Grew by 27% YoY to ₹425.4 crore.
- Asset Quality:
- Gross NPAs rose by 30.4% QoQ to ₹1,845.5 crore.
- Net NPAs jumped 53.75% QoQ to ₹1,024 crore.
- Gross NPA in percentage terms increased to 2.68% (from 2.19% in Q2 FY25).
- Net NPA rose to 1.5% (from 1.04% in Q2 FY25).
- Provision Coverage Ratio:
- Declined to 44.5% from 52.9% in the previous quarter.
- Provisions:
- Provisions tripled sequentially to ₹104 crore, reflecting an increase in provisioning requirements.
Shares of IREDA ended 3% lower at ₹215.15 on Thursday, closing at the day’s lowest point.
