October 11, 2024
New Delhi, India
IREDA Q2 Results
Indian Renewable Energy Development Agency Ltd (IREDA), a state-owned financial services firm, reported a strong 36.2% year-on-year (YoY) rise in its net profit for Q2FY25. The company posted a profit of ₹387.75 crore, up from ₹284.73 crore in the same quarter last year. Sequentially, net profit saw a marginal increase of 1.1% from ₹383.69 crore in Q1FY25.
Key Financial Highlights
- Net Profit: ₹387.75 crore, up 36.2% YoY
- Net Interest Income (NII): ₹546.86 crore, up 51.9% YoY
- Sequential Profit Growth: 1.1% from ₹383.69 crore in Q1FY25
IREDA’s shares closed 1.12% higher at ₹233.75 on the BSE, ahead of the earnings announcement on October 10.
Recent Performance
In Q1FY25, IREDA had already reported a 30% rise in net profit, reaching ₹383.69 crore, driven by strong revenue growth. The company’s revenue from operations for the June quarter had risen to ₹1,510.71 crore, a notable increase from ₹1,143.50 crore in the year-ago period.
Additionally, as of June 30, 2024, IREDA’s net worth surged by 44.83% YoY, rising to ₹9,110.19 crore from ₹6,290.40 crore.
More Q2 Results
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