State-run financier Indian Renewable Energy Development Agency (Ireda) reported a net profit of Rs 4.25 billion for the October-December quarter of the financial year 2024-25 (Q4FY25). This was a 27 per cent increase compared to the net profit of Rs 3.35 billion in the same quarter the previous year. The total revenue from operations for Q3FY25 stood at Rs 16.98 billion, reflecting a 35.6 per cent year-on-year (Y-o-Y) increase from Rs 12.52 billion in the corresponding quarter of the last financial year. On a sequential basis, the profit after tax (PAT) grew by 10 per cent compared to Rs 3.87 billion reported in Q2FY25. The gross non-performing assets (NPAs) decreased to 2.68 per cent in Q3FY25, down from 2.90 per cent in the same period the previous year. The company’s net interest income (NII) also surged by 39 per cent Y-o-Y, rising to Rs 6.22 billion from Rs 4.48 billion in the corresponding quarter of the previous year. Ireda’s loan disbursements for the December quarter increased by 41 per cent Y-o-Y, reaching Rs 172.36 billion, up from Rs 122.20 billion in the same period last year. By the end of Q3FY25, the company’s outstanding loan book amounted to Rs 690 billion, a 36 per cent increase from Rs 505.80 billion a year earlier. The company’s total expenses for the third quarter rose by 33.8 per cent, totalling Rs 11/60 billion, compared to Rs 8.67 billion in the same period of the previous year. Ireda’s debt-equity ratio stood at 5.89 times, compared to 5.13 times the previous year. The company’s net worth grew by 21 per cent, reaching Rs 98.42 billion, compared to Rs 81.34 billion in the same quarter last year. However, Ireda’s shares closed 3.31 per cent lower at Rs 215.90 after Thursday’s market session, compared to Rs 223.30 at the previous day’s close.