New Delhi: Indian Renewable Energy Development Agency (IREDA) share price will be in focus on July 15, 2024, i.e. Monday after the Public Sector Undertaking (PSU) on July 12 declared its Q1 Results of 2024-25 and reported over 30 per cent growth in its net profit to Rs 383.69 crore.
IREDA share price
IREDA shareholders are having a dream run as the stock has jumped over 370 per cent since its listing on November 29, 2023. The IREDA stock made a strong market debut by listing at a 56.25 per cent premium over the IPO issue price of Rs 32.
IREDA share price rallied around 20 per cent, 53 per cent and over 130 per cent in the last 5 days, one month and six months respectively.
The largest Pure-Play Green Financing NBFC in the country registered Profit After Tax of Rs 383.69 crore in the June quarter (in Q1). The company in its statement noted that the quarterly results mark an impressive year-on-year growth of 30.25 per cent. The net profit was recorded at Rs 294.58 crore in the quarter ended on June 30, 2023.
“The company has successfully reduced its Net Non-Performing Assets to 0.95% in the first quarter of FY 2024-25 from 1.61% in the same quarter of FY 2023-24,” IREDA said.
IREDA Q1 2024-25 Results Highlights
Profit After Tax reported at Rs 383.69 crore as against Rs. 294.58 crore in the first quarter of 2023-24 (up by 30.25%).
Revenue from Operations was recorded at Rs 1,510.71 crore as compared to Rs 1,143.50 crore (up by 32.11%) in the June quarter of the previous financial year.
The company sanctioned a loan amounting to Rs 9,210.22 in Q1 2024-25 as against 1,892.45 crore (up by 386.68%) in the first quarter of the previous financial year.
Loan Disbursement: Rs 5,325.88 crore as against 3,173.27 crore (up by 67.84%)
Loan Book: Rs. 63,206.78 crore as against Rs. 47,206.66 crore (up by 33.89%)
Net-worth: Rs. 9,110.19 crore as against Rs. 6,290.40 crores (up by 44.83%)
Net NPAs: 0.95% as against 1.61% (reduction by 41.01% in percentage terms)
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IREDA share price news: Indian Renewable Energy Development Agency shares have turned out to Multibagger and given over 370% returns since listing. The PSU stock will be in focus on July 15, 2024 after superb Q1 2024-25 Results. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
