IREDA’s net profit jumps 30.25% in Q1 FY 2024-2025

Earnings for the quarter reached $46.79m.

State-owned Indian Renewable Energy Development Agency Ltd. (IREDA) reported a 30.25% increase in its net profit in the first quarter of fiscal year 2024-2025 as it boosts efforts to expand clean energy in India. 

In a statement, IREDA said its profit after tax for the period reached $46.79m (INR383.69 crore) from $35.92m (INR294.58 crore) a year ago. Its revenue from operations also grew 32.11% to $183.4m (INR1,510.71 crore).

IREDA’s also reported an improved net worth, which was up 44.83% to $1.1b (INR9,110.19 crore) in the same period. 

Pradip Kumar Das, chairman and managing director of IREDA, emphasised the company’s “commitment to accelerating the adoption of renewable energy solutions in India, indicating a promising trajectory for investors and stakeholders.”

$1 =  INR82