New Delhi: The shares of Indian Renewable Energy Development Agency (IREDA) are expected to be in focus on February 19, 2025, Wednesday, after the company announced its wholly-owned arm has been given the approval for provisional registration as a finance company at Gift City in Gujarat.
In an exchange filing, IREDA confirmed that IREDA Global Green Energy Finance IFSC Limited has received the Certificate of Registration dated February 18 from International Financial Services Centre Authority (IFSCA) to undertake the activities as a finance company.
“IFSCA in its letter dated September 4, 2024 has granted the provisional registration to IREDA Global Green Energy Finance IFSC, (a wholly-owned subsidiary of IREDA) as a finance company at Gift City,” it said.
IREDA is controlled by the Ministry of New & Renewable Energy. It is engaged in providing finance to mainly renewable energy projects.
IREDA Q3 Results 2024-25
In its Q3 Results 2024-25, IREDA stated that its revenue from operations jumped 35.57 per cent to Rs 1,698.99 crore, compared to Rs 1,253.20 crore in Q3 FY 2023-24. The company’s Profit Before Tax (PBT) stood at Rs 538.20 crore, while it was Rs 386.14 crore in the October-December quarter of the previous fiscal year.
IREDA mentioned that its Profit After Tax (PAT) was recorded at Rs 425.37 crore, a 26.77 per cent jump from Rs 335.54 crore in the third quarter of 2023-24.
In its papers with exchanges, IRDEA it sanctioned loan amounts of Rs 13,226.81 crore, which was 45.01 per cent growth compared to Rs 9,121.11 crore in October-December quarter of 2023-24.
IRDEA’s loan disbursements was recorded Rs 7,448.96 crore as against Rs 5,946.45 crore in the same period of the last financial year.
The PSU’s Loan Book recorded a surge of 36.34 per cent to Rs 68,959.61 crore. It was Rs 50,579.67 crore in Q3 of 2023-24, while the net worth strengthened to Rs 9,842.07 crore, from Rs 8,134.56 crore in Q3 FY 2023-24.
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IREDA share is anticipated to be in focus on February 19, 2025 (Wednesday) following the announcement of its wholly-owned subsidiary, IREDA Global Green Energy Finance IFSC Limited, receiving provisional registration as a finance company from IFSCA. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
