IREDA Q2 Results: Profit Rises 36%, But Misses Estimates

Indian Renewable Energy Development Agency Ltd. (IREDA) reported a net profit of Rs 388 crore during the three months ended September, an increase of 36% from the year-ago period, according to its stock exchange notification. That was, however, lower than the Rs 410 crore that analysts tracked by Bloomberg had estimated.

The company's revenue rose 38% year-on-year to Rs 1,630 crore during the July-September period, the statement added. The agency's loan sanctions increased to Rs 17,860 crore in the April-September period of fiscal 2025, up 303% from the previous year, according to Ireda's separated statement to the exchanges last week.

Loan disbursements rose to Rs 9,787 crore, a 56% increase from Rs 6,273 crore recorded in September 2023. IREDA's outstanding loan book was Rs 64,500 crore, a 36% increase from Rs 47,514 crore in the previous year.

Last month, the government proposed to raise funds via share sale to institutional investors of up to 7% equity in IREDA. The company plans to raise approximately Rs 25,000 crore through the debt market and Rs 4,500 crore via equity in the current financial year, Chairperson Pradeep Das said last month.

Ahead of the results announcement, shares of IREDA ended 0.7% higher at Rs 232.70, compared with 0.07% gains in the country's benchmark NSE Nifty 50. The stock has advanced 127% so far this year.

Only two analysts, ICICI Direct and Phillip Securities, are tracking IREDA, according to Bloomberg data.

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