New Delhi, Oct 14: Navratna public sector undertaking Indian Renewable Energy Development Agency Limited (IREDA) on Tuesday announced a 41 per cent jump in net profit to Rs 549 crore for the July-September quarter of the current financial year (Q2 FY26) compared to the corresponding figure of Rs 388 crore for the same quarter of the previous financial year (Q2 FY25).
The country’s largest pure-play green financing NBFC recorded a robust 26 per cent increase in revenue from operations to Rs 2,057 crore from Rs 1,630 crore in the same quarter previous financial year, according to its stock exchange filing.
IREDA’s loan sanctions for the second quarter surged by as much as 145 per cent to Rs 21,408 compared with the corresponding figure of Rs 8,724 crore in the same quarter a year ago while loan disbursements rose by 81 per cent to Rs 8,062 crore during the quarter from Rs 4,462 crore.
The NBFC’s loan book has now expanded to Rs 84,477 crore which represents a 31 per cent increase over the corresponding figure of Rs 64,564 crore at the end of the second quarter of the last financial year.
There has also been a 38 per cent increase in the net worth of the Government-owned NBFC at Rs 12,920 crore compared with the corresponding figure of Rs 9,336 crore in the year ago period.
“IREDA has registered significant year-on-year growth across key financial metrics. The company’s expanding loan book, rising net worth, and consistent profitability underscore its strategic focus and commitment to supporting India’s renewable energy ambitions,” the company said.
Union Minister for New and Renewable Energy, Pralhad Joshi, said that India’s clean energy journey continues to gain strong momentum, driven by IREDA’s impressive Q2 FY26 performance.
“IREDA is fostering sustainable growth and self-reliance in the renewable energy sector, lighting up India’s future and inspiring collective efforts toward a greener and brighter tomorrow, with passion and purpose,” the minister added.
Commenting on the Q2 performance, Pradip Kumar Das, Chairman & Managing Director, IREDA, said: “IREDA’s consistent growth across quarters underscores our strategic focus and execution excellence. Our expanding loan book and strong financials are a testament to the trust placed in us by stakeholders and highlight our role as a key enabler in India’s clean energy ecosystem.”
This report is from IANS news service. NewsGram holds no responsibility for its content.
(NS)
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