IREDA profit after tax rises 87% to over Rs 200.75 crore for Dec quarter

State-owned IREDA on Thursday posted a rise of 87 per cent in its profit after tax at Rs 200.75 crore in the December 2022 quarter, mainly on higher income

IREDA
Press Trust of India New Delhi
2 min read Last Updated : Feb 09 2023 | 11:05 PM IST

State-owned IREDA on Thursday posted a rise of 87 per cent in its profit after tax at Rs 200.75 crore in the December 2022 quarter, mainly on higher income.

The company had clocked a PAT (profit after tax) of Rs 107.19 crore during October-December quarter of preceding 2021-22 fiscal, Indian Renewable Energy Development Agency (IREDA) said in a statement.

Its total income rose by 17 per cent to Rs 868.98 crore from Rs 743.30 crore in the year ago quarter.

IREDA's net Non-Performing Assets (NPAs) reduced to 2.03 per cent in the third quarter of FY23 from 6.26 per cent in the same quarter a year ago.

The company disbursed loan worth Rs 6,341.81 crore as against Rs 1,484.84 crore a year ago, up by 327 per cent.

Its overall loan book stood at Rs 37,887.69 crore as against Rs 26,937.45 crore a year ago, up by 41 per cent.

Pradip Kumar Das, Chairman and Managing Director (CMD), IREDA, said, "We are happy to post historical financial results for the third quarter with more than three-fold growth in loan disbursement and a five-fold jump in loan sanction. Most impressively, IREDA's net NPAs have reduced from 6.26 per cent in the third quarter of the previous fiscal year to 2.03 per cent in the third quarter of FY 23.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Topics :IREDAQ3 results

First Published: Feb 09 2023 | 11:05 PM IST

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