+
Ireda Q2 net profit grows 36% to Rs 3.88 Bn
ECONOMY & POLICY

Ireda Q2 net profit grows 36% to Rs 3.88 Bn

State-owned Ireda reported a 36 % rise in its profit after tax to Rs 3.87 Bn in the September quarter on higher revenues. The company had posted a profit after tax (PAT) of Rs 2.84 Bn in the July-September period of the preceding 2023-24 fiscal, it said in an exchange filing. Its total revenue from operations rose 38.52 % year-on-year to Rs 16.30 billion from Rs 11.76 billion. Ireda's loan book increased by 35.88 % to Rs 645.64.36 billion from Rs 47,514.48 crore in the same quarter a year. Ireda CMD Pradip Kumar Das said, "Q2 results reflect our unwavering dedication to advancing India's renewable energy goals. The substantial growth in loan sanctions and disbursements underscores the company's commitment to supporting green projects across the nation". Indian Renewable Energy Development Agency, under the Ministry of New and Renewable Energy, is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency or conservation.

State-owned Ireda reported a 36 % rise in its profit after tax to Rs 3.87 Bn in the September quarter on higher revenues. The company had posted a profit after tax (PAT) of Rs 2.84 Bn in the July-September period of the preceding 2023-24 fiscal, it said in an exchange filing. Its total revenue from operations rose 38.52 % year-on-year to Rs 16.30 billion from Rs 11.76 billion. Ireda's loan book increased by 35.88 % to Rs 645.64.36 billion from Rs 47,514.48 crore in the same quarter a year. Ireda CMD Pradip Kumar Das said, Q2 results reflect our unwavering dedication to advancing India's renewable energy goals. The substantial growth in loan sanctions and disbursements underscores the company's commitment to supporting green projects across the nation. Indian Renewable Energy Development Agency, under the Ministry of New and Renewable Energy, is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency or conservation.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Annette Gregg Named WTCA’s First Female CEO

World Trade Centers Association (WTCA) has appointed Annette Gregg as Chief Executive Officer, making her the first woman to lead the organisation in its 57-year history.Gregg assumed the role from October 5 and will lead WTCA from its recently established global headquarters at One World Trade Center in New York City. The association connects more than 300 World Trade Center locations across nearly 100 countries and territories.As CEO, Gregg will provide strategic leadership to WTCA and its global staff, working with the Board of Directors and members to advance business priorities, strengthe..

Next Story
Resources

Isprava Appoints Sanjay Sethi as Strategic Advisor

Isprava Group has appointed Dr Sanjay Sethi as Strategic Advisor to the business, with a focus on Lohono Stays and Isprava Hospitality.Sethi brings more than 37 years of experience across hospitality operations, development, ownership, strategic growth and capital markets. He will work closely with the Group on strategy, growth and the development of its hospitality business.The appointment comes as Isprava Group expands its integrated ecosystem spanning luxury homes, hospitality, private membership and end-to-end homeowner services.Nibhrant Shah, Managing Director & Co-CEO, Isprava Group, sai..

Next Story
Infrastructure Energy

SunBridge BioEnergy Starts Ethanol Production in Seoni

SunBridge BioEnergy, the bioenergy arm of SunBridge Group, has commenced commercial production at its grain-based fuel-grade ethanol manufacturing facility in Seoni, Madhya Pradesh. The Seoni plant has a production capacity of 300 kilolitres per day and a storage capacity of 11,000 kilolitres. Spread across approximately 117,560 sq m, the facility marks SunBridge BioEnergy’s entry into commercial ethanol production. The company is also expanding its ethanol portfolio with a 400 KLD facility in Raipur, Chhattisgarh, which is expected to become operational soon. Once commissioned, SunBridge ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code