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IREDA Announces Audited Financial Results

"IREDA has reported growth in quarterly PBT and PAT by 76.15% and 67.14%, respectively, and has also registered a significant reduction in gross and net NPAS, which is a tremendous achievement for any NBFC," said Shri Pradip Kumar Das, Chairman & Managing Director (CMD), IREDA.

The Ministry of New & Renewable Energy’s PSU, the Indian Renewable Energy Development Agency (IREDA), today released the audited financial figures for the second quarter that concluded on September 30, 2022. The company’s profit Before Tax (PBT) was reported at 276.31 crores, up 76.15% from 156.86 crores in the second quarter of the prior fiscal year. The Net Non-Performing Assets (NPAS) of IREDA decreased by 44% YOY to 2.72% in Q2 of FY 2022–23 from 4.87% in Q2 of FY 2021–22.

Highlights of Q2, FY 2022-23 as compared to the corresponding period during Q2, FY 2021-22 are as follows:

  • Profit Before Tax: 276.31 crore as against 156.86 crore (up by 76.15% )
  • Profit After Tax: 184.30 crore as against 110.27 crore (up by 67.14%)
  • Gross Income: *791.56 crore as against ₹682.94 crore (up by 15.90%)
  • Net-worth: 5,638.31 crore as against 23,333.19 crore (up by 69.16%)
  • Loan Book: 33,783.36 crore as against 28,856.48 crore (up by 17.07% )
  • Loan Sanction: *11,226.49 crore as against 5925.12 crore (up by 89.47%)
  • Net NPAs: 2.72% as against 4.87% (reduction by 44.00%)
  • Gross NPAs: 5.06% as against 8.05% (reduction by 37.17%)

CMD, IREDA emphasised that without the assistance of Team IREDA, this would not have been possible. He expressed his gratitude to every worker for their constant labour and assistance. He expressed his sincere appreciation for the constant guidance and assistance received from Shri R. K. Singh, Union Minister of Power and New & Renewable Energy, and Shri Bhagwanth Khuba, Minister of State, New & Renewable Energy, Chemicals & Fertilizers. Shri Das further expressed his appreciation for the steadfast assistance from the Secretary, various MNRE officials, and the Board of Directors.

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