Stock in Focus: IREDA posts 36% increase in Q2 net profit

State-run Indian Renewable Energy Development Agency (IREDA) reported a 36% year-on-year increase in net profit for the second quarter of FY25, reaching ₹387 crore. Net Interest Income (NII) also surged by 51.9%, totaling ₹547 crore. The company maintained its gross NPA at 2.19%, while the net NPA stood at 1.04%. IREDA’s performance highlights its solid financial standing amid growing demand for renewable energy financing.

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.

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