IREDA Share Price Rises Following Strong Q3FY25 Results
On January 10, 2025, shares of Indian Renewable Energy Development Agency (IREDA) saw a positive movement, soaring as much as 3.17%, reaching an intraday high of Rs 222.75 per share. This surge was attributed to the company’s impressive profit growth and net interest income (NII) for the December quarter of FY25 (Q3FY25).
IREDA Q3FY25 Performance Highlights:
- Net Profit: Increased by 27% YoY, reaching Rs 425.4 crore in Q3FY25, up from Rs 335.5 crore in Q3FY24.
- Net Interest Income (NII): Grew by 39% YoY to Rs 622.3 crore, compared to Rs 448.1 crore in the same period last year.
However, the IREDA share price could not maintain its gains, as it later dropped to an intraday low of Rs 208.50, marking a 3.42% decline. This downturn was attributed to the rising non-performing assets (NPAs) in the company’s portfolio, which slightly dampened investor sentiment.
- Gross NPA: Rose to 2.68% in Q3FY25, compared to 2.19% in Q2FY25.
- Net NPA: Increased to 1.50% in Q3FY25 from 1.04% in the previous quarter.
IREDA Q3FY25 Business Update:
- Loan Sanctioned: Jumped by 129% YoY to Rs 31,087 crore, up from Rs 13,558 crore in Q3FY24.
- Loan Disbursements: Grew by 41% YoY to Rs 17,236 crore, up from Rs 12,220 crore in Q3FY24.
- Loan Book Outstanding (O/s): Increased by 36% YoY to Rs 69,000 crore, compared to Rs 50,580 crore in the same quarter last year.
IREDA IPO and Market Capitalization:
In November 2023, IREDA made a successful debut on the NSE and BSE with an IPO, which was priced at Rs 32. The stock listed at Rs 50 on the BSE, reflecting a 56.25% premium over the issue price.
As of now, IREDA’s market capitalization stands at Rs 56,738.71 crore, and the company is part of the BSE 200 index.
About IREDA:
Established in 1987, IREDA is a public sector enterprise under the Government of India. It is administered by the Ministry of New and Renewable Energy (MNRE) and plays a vital role in promoting and financing renewable energy and energy efficiency projects. As a Non-Banking Financial Institution (NBFC), IREDA provides financial assistance for projects in the green power sector, including solar energy and other renewable sources, as well as supporting the development of solar manufacturing units.
Currently, at 11:00 AM, IREDA shares were trading at Rs 210.90, a 2.32% drop from the previous close. The BSE Sensex was down 0.17% at 77,490.38.
The company’s performance and role in fostering sustainable development through green energy make it a significant player in the Indian renewable energy sector.
