IREDA reports all-time high annual net profit

MUMBAI: Indian Renewable Energy Development Agency Ltd. (IREDA), the nation’s largest pure-play inexperienced financing NBFC, has achieved an all-time high annual Profit After Tax (PAT) of Rs 1252.23 crores, marking an spectacular development of 44.83% over the earlier fiscal 12 months 2022-23. The firm has efficiently diminished its Net Non-Performing Assets (NPAs) to 0.99% in FY 2023-24, from 1.66% in FY 2022-23, demonstrating a major discount of 40.52% year-on-year.
The Loan Book of IREDA has grown by 26.81%, from Rs 47,052.52 crores as on 31^st March, 2023 to Rs 59,698.11 crores as on 31^st March, 2024. The firm has achieved all-time high annual Loan Sanctions of Rs 37,353.68 crores and Disbursements of Rs 25,089.04 crores in Financial Year 2023-24, registering a rise of 14.63% and 15.94% respectively, over mortgage sanctions of Rs 32,586.60 crores and disbursements of Rs 21,639.21 crores within the earlier 12 months. This marks the best annual mortgage disbursement and sanction within the historical past of the corporate.
The net-worth of the corporate has grown by 44.22%, having reached Rs 8,559.43 crores as on 31^st March, 2024 as in opposition to Rs 5,935.17 crores for the 12 months ending 31^st March 2023.
On the event of announcement of the unprecedented audited monetary outcomes for the fiscal 12 months 2023-24, the Board of Directors of IREDA counseled the corporate’s distinctive efficiency and sustained development at a gathering held on the firm’s Registered Office on April 19, 2024.
The annual monetary highlights for the FY 2023-24 as in opposition to FY 2022-23 are as follows:

Key monetary highlights for This fall, FY 2023-24 in comparison with This fall, FY 2022-23 are as follows:

Expressing happiness on the outstanding monetary outcomes, chairman & managing director of IREDA Shri Pradip Kumar Das emphasised IREDA’s steadfast dedication to accelerating the adoption of renewable vitality options in India, indicating a promising trajectory for buyers and stakeholdeRs
CMD, IREDA attributed the corporate’s development to the unwavering belief and help of its stakeholders, whereas extending gratitude to the ministry of recent & renewable vitality and board of administrators for his or her indispensable help and steering. He additionally counseled Team IREDA for his or her dedication and protracted efforts, which considerably contributed to the excellent monetary efficiency.
Notably, IREDA has set a brand new benchmark by publishing its Annual Audited Financial Results inside simply 19 days, the quickest publication of Audited Results within the Banking and NBFC area, surpassing SEBI’s 60-day deadline. This achievement follows final 12 months’s document of publishing the outcomes inside 25 days.