IREDA Q3 Results: Profit Rises 67% At Rs 335.5 Crore

State-owned Ireda on Saturday posted a 67% rise in net profit at Rs 335.54 crore during the quarter ended December 2023, pushed by higher income.

It had clocked Rs 200.75 crore net profit during the October-December period of the preceding 2022-23 fiscal, the company said in an exchange filing.

During the quarter under review, the company's total income surged to Rs 1,253.19 crore, from Rs 868.97 crore a year ago.

Its expenses were Rs 867.05 crore in the period under review, as against Rs 634.27 crore in the year-ago period.

The equity shares of the company were listed on BSE and National Stock Exchange on November 29, 2023.

IREDA, 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 related to new and renewable sources of energy and energy efficiency/conservation.