As a staggering feat, India’s largest pure-play green financing NBFC, Indian Renewable Energy Development Agency Ltd. (IREDA), registered an all-time high annual Profit After Tax (PAT) of Rs. 1252.23 crores, marking an impressive growth of 44.83% over the previous fiscal year 2022-23. The company has successfully reduced its Net Non-Performing Assets (NPAs) to 0.99% in FY 2023-24, from 1.66% in FY 2022-23, demonstrating a significant reduction of 40.52% year-on-year.
Exhilarated by this staggering achievement, the Board of Directors of IREDA lauded the PSU’s unprecedented performance and sustained growth at a meeting held at the company’s Registered Office on April 19th. Mr. Pradip Kumar Das, Chairman & Managing Director (CMD) of IREDA, spoke at length about the PSU’s steadfast commitment to accelerating the adoption of renewable energy solutions in India, indicating a promising trajectory for investors and stakeholders, and attributed the company’s growth to the unwavering trust and support of its stakeholders, while extending gratitude to the Ministry of New & Renewable Energy and Board of Directors for their indispensable support and guidance.
Today, IREDA has broken another crucial glass ceiling and set a new benchmark by publishing its Annual Audited Financial Results within 19 days, the fastest publication of Audited Results in the Banking and NBFC space, surpassing SEBI’s 60-day deadline.
