IREDA Registers Highest-Ever Annual Profit of Rs 865 Cr in FY22-23
- Indian Masterminds Bureau
- Published on 27 Apr 2023, 2:25 pm IST
- 2 minutes read
Highlights
The company reported an all-time high Profit After Tax (PAT) of Rs. 865 crores and Profit Before Tax (PBT) of Rs. 1,139 crores in the financial year 2022-23.
State-owned, Indian Renewable Energy Development Agency Ltd. (IREDA), one of the largest renewable energy funding companies in the country, has registered its highest-ever annual Profit After Tax (PAT) earning of Rs. 865 crore in the financial year 2022-23.
The company also reported an all-time high Profit Before Tax (PBT) of Rs. 1,139 crores in the same financial year 2022-23. The figures represent a significant growth of 36% and 37% respectively over the previous financial year 2021-22.
IREDA’s Net Non-Performing Assets (NPAs) have been reduced to 1.66% in FY 2022-23 from 3.12% in FY 2021-22, a significant reduction of 47% (in percentage terms) on a Year-on-Year basis.Related Stories
The Board of Directors of IREDA approved the Audited Financial Results for Financial Year 2022-23 in a April 25 meeting.
The Loan Book of IREDA has grown from Rs. 33,931 crores as on 31st March 2022 to Rs. 47,076 crores as on 31st March 2023 (registering a growth of 39%).
The company has achieved all-time high annual Loan Sanctions of Rs. 32,587 crores and Disbursements of Rs. 21,639 crores in the Financial Year 2022-23, registering an increase of 36% and 35% respectively, over previous financial year loan sanctions of Rs. 23,921 crore and disbursements of Rs. 16,071 crores. This marks the highest annual loan disbursement and sanction in the company’s history.
The net worth of the company as on 31st March 2023 has reached Rs. 5,935 crores as against Rs. 5,268 crores, year ending 31st March 2022 (increased by 13%).
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