Ireda PAT up 54% in Q2FY24, NPAs down 39%

25 Oct 2023 CW Team

According to a release from the Ministry of New and Renewable Energy, the Indian Renewable Energy Development Agency (Ireda) reported a 54% increase in profits after tax (PAT) at Rs 285 crore for the second quarter of the current fiscal year (Q2FY24).

Net non-performing assets (NPAs) were also reduced by 39% to 1.65% from 2.72 % last year. Gross NPA fell by 38% to 3.13 percent, compared to 5.06 percent in the same period last year.

Total operating income increased by 49% to Rs 1,176.96 crore from Rs 791.56 crore the previous year.

Ireda also reported sustained growth in its loan book, which climbed by 41% year on year to Rs 47,514.48 crore from Rs 33,783.36 crore.

Ireda's net worth increased by 17% year on year to Rs 6,580.61 crore from Rs 5,638.31 crore. At a meeting today at Ireda's registered office, the board of directors approved the audited financial statements for the second quarter of fiscal year 2023-24. The Board praised the company's excellent performance and ongoing growth trajectory.

Speaking on the results, the chairman & managing director of Ireda, Pradip Kumar Das said, ""Ireda remains committed to its commitment of accelerating the adoption of renewable energy solutions in the country. These positive financial results are a testament to IREDA's steady dedication to facilitating the growth of the renewable energy sector in India, which contributes to the nation's energy transition and environmental sustainability.""

Ireda is a Mini Ratna (Category - I) Government of India firm that reports to the Ministry of New and Renewable Energy.

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..