IREDA Q4 results 2024: Net profit climbs to all-time high on 44.83% YoY growth, NPA below 1%. Top 5 takeaways

IREDA nett net climbs to grounds high

Informing the Indian exchanges astir the Q4 results 2024, IREDA said, "IREDA has achieved an all-time precocious yearly Profit After Tax (PAT) of Rs. 1252.23 crore, marking an awesome maturation of 44.83% implicit the erstwhile fiscal twelvemonth 2022-23. The institution has successfully reduced its Net Non-Performing Assets (NPAs) to 0.99% successful FY 2023-24 from 1.66% successful FY 2022-23, demonstrating a important simplification of 40.52% year-on-year."

The Loan Book of IREDA has grown from ₹47,052.52 crores arsenic of 31st March 2023 to ₹59,698.11 crores arsenic of 31st March 2024 (registering a maturation of 26.81%). The institution has achieved all-time precocious yearly Loan Sanctions of ₹37,353.68 crore and Disbursements of ₹25,089.04 crore successful Financial Year 2023-24, registering an summation of 14.63% and 15.94% respectively, implicit the erstwhile fiscal twelvemonth indebtedness sanctions of ₹32,586.60 crore and disbursements of ₹21,639.21 crore. This marks the highest yearly indebtedness disbursement and authorisation successful the company's history.

IREDA Q4 results 2024: Top 5 takeaways

1] Profit Before Tax (PBT): The institution reports PBT astatine ₹479.67 crore from January to March 2024, logging a 66.33 percent emergence against PBT of ₹288.38 crore successful Q4FY23.

2] PAT oregon nett profit: The PSU institution reported a nett net of ₹337.38 crore successful Q4FY24, a grounds YoY emergence of implicit 33 percent against the Q4FY23 nett net of ₹253.62 crore.

3] Loan Sanctions: The company's Loan Sanction stood astatine ₹23,407.57 crore successful the precocious ended 4th fourth of the fiscal twelvemonth 2023-24, logging a YoY emergence of 98.42 percent against the sanctioned indebtedness magnitude of ₹11,796.95 crore successful Q4FY23.

4] Loan Disbursement: In Q4FY24, the state-owned institution reported a full indebtedness disbursed magnitude of ₹12,869.35 crore arsenic against ₹11,291.09 crore successful the corresponding play successful the erstwhile fiscal (up by 13.98%).

5] Net Worth: The company's nett worthy stood astatine ₹8,559.43 crore arsenic against ₹5,935.17 crore successful the aforesaid 4th successful the erstwhile fiscal twelvemonth (up by 44.22%).

Pradip Kumar Das, Chairman & Managing Director of IREDA, expressed his happiness astatine the singular fiscal results achieved. He emphasized IREDA's steadfast committedness to accelerating the adoption of renewable vigor solutions successful India, indicating a promising trajectory for investors and stakeholders.

CMD, IREDA attributed the company's maturation to the unwavering spot and enactment of its stakeholders, portion extending gratitude to the Ministry of New & Renewable Energy and Board of Directors for their indispensable enactment and guidance. He besides commended Team IREDA for their dedication and persistent efforts, which importantly contributed to the outstanding fiscal performance.

The nett worthy of the institution arsenic of 31st March 2024 has reached ₹8,559.43 crore arsenic against ₹5,935.17 crore, twelvemonth ending 31st March 2023 (increased by 44.22%). 

IREDA  share terms ended connected Friday astatine ₹160.95 apiece connected NSE.

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Published: 20 Apr 2024, 07:05 AM IST