GTPL Share Price Fell 7.55%; Reports 4% Revenue Growth in Q3 FY25 Results

GTPL Hathway Limited has reported its financial results for the quarter ending December 31, 2024.

Post the announcement, on January 10, 2025, GTPL share price opened at ₹145.00, down from its previous close of ₹146.52. At 10:19 AM, the share price of GTPL was trading at ₹135.46, down by 7.55% on the NSE. Notably, the stock touched its 52-week low at ₹133.13.

Q3 FY 2025 Financial Highlights

The company achieved a total revenue of ₹8,957 million, marking a 4% year-on-year (Y-o-Y) growth. EBITDA for Q3 FY25 stood at ₹1,138 million, reflecting an EBITDA margin of 12.7% and an operating EBITDA margin of 21.8%. Profit After Tax (PAT) for the quarter was ₹102 million.

Operational Highlights

In terms of operational performance, GTPL Hathway’s Digital Cable TV business showed steady growth, with active subscribers reaching 9.60 million as of December 31, 2024, an increase of 200,000 Y-o-Y. Paying subscribers also saw a rise of 2,00,000 Y-o-Y, totalling 8.90 million. The subscription revenue from Cable TV amounted to ₹3,024 million for the quarter.

On the broadband front, GTPL Hathway saw a growth in subscribers, with broadband subscribers increasing by 37,000 Y-o-Y, bringing the total to 1.042 million. The company’s homepass, which represents the network coverage for broadband services, stood at 5.95 million, an increase of 3,50,000 Y-o-Y.

Notably, 75% of the homepass is available for FTTX (Fiber to the Home) conversion. The broadband average revenue per user (ARPU) for the quarter was ₹465 per month, reflecting a ₹5 Y-o-Y increase. Additionally, the average data consumption per user per month was 365 GB, marking a 6% Y-o-Y increase.

GTPL Hathway’s consistent growth across both its Digital Cable TV and broadband segments highlights the company’s strong market position.

Commenting on the results, the Managing Director of GTPL Hathway Limited, Mr Anirudhsinh Jadeja, said, “GTPL continues to consistently grow subscriber base across both business divisions, reflecting our commitment to provide best in class and innovative products and services to our customers. Our focus on providing a holistic experience for our subscribers has enabled us to maintain our position as the largest MSO in the country. We are confident of our growth in upcoming quarters in both the business segments based on favourable industry dynamics towards continued consolidation.”

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Senco Share Price Drops 3.97%; Reported Q3 FY25 Performance with 22% Revenue Growth

Senco Ltd has posted its business update for Q3 and the first nine months of FY25.

On January 10, 2025, Senco share price opened at ₹1,120.00, down from its previous close of ₹1,127.55. At 9:50 AM, the share price of Senco was trading at ₹1,082.80, down by 3.97% on the NSE.

Industry Update

The company stated that the gold prices have experienced a slowdown in their upward movement since early November 2024. After months of record highs, gold prices dropped from a peak of US$2,787 per ounce to US$2,605 per ounce by December 2024, a decline of nearly 6%.

Despite this dip, the gold market continued to show resilience, with a significant increase in prices. In Q3, gold prices increased by 24% year-on-year (YoY), and 8% quarter-on-quarter (QoQ). Indian consumers, driven by the reduction in customs duty, remained committed to buying gold despite rising prices. This sustained demand was particularly evident during the Dhanteras period and in the second week of December.

QIP Update

Senco Ltd successfully raised ₹459 crore through a Qualified Institutional Placement (QIP), allotting equity shares at ₹1,125 per share, which is nearly 3.5 times the IPO price. As a result of this allotment, the company’s equity share capital base has increased from 7.77 crore shares to 8.18 crore shares, marking a notable expansion.

Business Key Highlights

Senco Ltd achieved growth in the third quarter and the first nine months of FY25. The company recorded its highest-ever monthly sales in October 2024, crossing ₹1,000 crore in a single month. In Q3 FY25, the company achieved over ₹2,000 crore in sales, marking another milestone. The total trailing twelve months (TTM) revenue has surpassed ₹6,000 crore, reflecting the company’s steady march toward its annual revenue growth target of 19%-20%.

In terms of growth, Senco reported a 22% YoY revenue increase in Q3 and a 19% YoY growth in the first nine months of FY25. Retail growth was steady at 19% YoY in Q3, with Tier 3 and Tier 4 towns outperforming metro and Tier 2 cities, a trend consistent with broader economic patterns and retail consumption.

The Same Store Sales Growth (SSSG) remained strong in the 13%-14% range, indicating that existing showrooms continue to perform robustly. The stud ratio, a key metric for the company’s product offerings, remained steady at 10.5%, with ongoing investments in marketing, inventory build-up, and customer engagement programs aimed at enhancing this ratio, particularly in northern markets.

The company’s old gold recycling program continued to be a key component of its business, contributing 38% from old gold and 62% from non-sourced gold. This initiative supports the shift from unorganised to organised markets, aligning with industry trends.

Additionally, Senco incorporated a wholly owned subsidiary named Sennes, which will drive its value-creation strategy. Sennes will focus on the consumer lifestyle segment, including premium leather accessories, lab-grown diamond jewellery, and perfumes. The company also witnessed an increase in its Average Selling Price (ASP) and Average Transaction Value (ATV), with both growing by 28% and 14%, respectively, during the nine-month period.

Showroom Network and Expansion

Senco Ltd’s showroom network has expanded to 170, including 69 franchisee showrooms, with 12 new showrooms launched in the last nine months. The new openings include stores in Gwalior (MP), Dehradun (UK), Barakar (WB), and Chandaneshwar (Odisha). Notably, the Dehradun store marks the company’s entry into Uttarakhand, which is considered a significant milestone for Senco. The company is also celebrating the centennial mark in its own showroom portfolio.

Q4 FY25 Outlook

Looking ahead, Senco Ltd is committed to opening 18-20 new jewellery showrooms during FY25, with plans to establish 10-12 franchisee outlets.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Tata Elxsi Share Price Dips 7.62%; Reports ₹199 Crore Profit in Q3 FY25 Results

Tata Elxsi announced its financial results for the third quarter ending December 31, 2024.

On January 10, 2025, Tata Elxsi share price opened at ₹5,950.00, down from its previous close of ₹6,439.95. At 9:40 AM, the share price of Tata Elxsi was trading at ₹5,949.25, down by 7.62% on the NSE. Notably, the stock touched its 52-week low at ₹5,929.85.

Financial Performance Highlights

The company reported an operating revenue of ₹939.2 crore. The company achieved an operating EBITDA of ₹246.6 crore, with an EBITDA margin of 26.3%. Profit After Tax (PAT) stood at ₹199.0 crore, reflecting a PAT margin of 20.3%.

Commenting on the performance, the CEO and Managing Director of Tata Elxsi, Mr Manoj Raghavan, said, “We continue to see positive outcomes of our strategic business focus on Japan, emerging markets and capitalising on the India opportunity. During the quarter, our revenue from India has grown by 21.9% YoY, while Japan and emerging markets grew at 66.8% YoY. This will serve us well over the next few quarters even as we navigate geopolitical uncertainty, currency volatility and industry-specific challenges in Europe and the US.”

Strategic Initiatives and Developments During the Quarter

He also stated that the automotive industry faced significant business challenges in recent months, with OEMs, particularly in the US and Europe, reporting sales and growth difficulties in their key markets. These challenges have affected new deal closures and Tier 1 supplier spending. Despite this challenging environment, Tata Elxsi successfully secured and executed large deals during the year, showcasing its ability to deliver differentiated value to customers. The company has managed to protect and grow its revenues, even during a difficult quarter for the global automotive industry.

During the quarter, TTata Elxsi established an Offshore Development Centre for Suzuki Corporation, Japan, to support their global technology and engineering development. The centre will play a key role in accelerating innovation across Connected, Autonomous, and Electric technologies.

The CEO and MD stated that Tata Elxsi unveiled its AVENIR SDV software suite, a cloud-native virtual development platform powered by Qualcomm’s Snapdragon Digital Chassis.

The suite offers solutions for accelerating the software-defined vehicle (SDV) and mobility roadmaps for global OEMs.

Despite seasonal challenges, the segment delivered QoQ constant currency growth.

A significant multi-year deal was secured with a US-based MSO for developing and managing their application portfolio.

The company’s Healthcare & Lifesciences business segment reported 1.1% QoQ growth, driven by marquee customer wins and traction in Gen AI-powered regulatory, digital engineering, and sustainability solutions.

“We step into the fourth quarter of this financial year with the confidence of large automotive deal wins in the year and quarter that will see continued ramp-ups even as we navigate the current volatility in the automotive market; the stability and return to growth in our healthcare and media & communications verticals, and large strategic deals in the pipeline across all our key verticals,” said Mr Manoj Raghavan.

 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Stocks To Watch Today on January 10, 2025: TCS, IREDA, Tata Elxsi, Adani Total Gas and More in Focus

On Thursday, January 9, 2025, the Indian benchmark indices Sensex dropped by 528.28 points, or 0.68%, to close at 77,620.21, while the Nifty 50 declined by 162.45 points, or 0.69%, ending at 23,526.50. Check out a few stocks that might be in focus during the trading session on Friday.

  • TCS

Tata Consultancy Services (TCS) reported a net profit of ₹12,380 crore for Q3 FY25, reflecting an 11.9% increase over ₹11,058 crore in the same quarter of FY24. Adjusting for a one-time legal settlement of ₹958 crore in Q3 FY24, the year-on-year (YoY) net profit growth stands at 5.5%.

  • IREDA

Indian Renewable Energy Development Agency (IREDA) posted a net profit of ₹425.38 crore in the October-December quarter, marking a 27% increase from ₹335.53 crore in the corresponding period last year.

  • Adani Total Gas

Adani Total Gas received an upward revision of 20% in administered price mechanism (APM) gas allocation from GAIL (India), effective January 16, 2025. This revision is expected to positively impact the company and stabilise retail prices for consumers.

  • Adani Wilmar

Adani Commodities LLP, a promoter of Adani Wilmar, plans to sell up to 20% of its stake in the company through an Offer for Sale (OFS), set to open on Friday, January 10, 2025.

  • Indian Overseas Bank

Indian Overseas Bank has announced plans to sell ₹11,500 crore worth of non-performing assets to asset reconstruction companies (ARCs). The sale includes 46 loan accounts, with expressions of interest invited from ARCs.

  • Tata Elxsi

Tata Elxsi revenue from operations for the quarter ending December 31, 2024, rose 2.7% to ₹939 crore, compared to ₹955.1 crore a year earlier. However, its net profit declined 3.6% to ₹199 crore from ₹229.4 crore in the year-ago quarter.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Closing Bell: Nifty & Sensex Ended in Red; Bajaj Auto Leads Gainers on January 9, 2025

On January 9, 2025, the BSE Sensex ended in red closing at 77,620.21, down by 0.68% and the NSE Nifty50 closed at 23,526.50, declining by 0.69%.

Sectoral Performance

On Thursday, Nifty Realty, Nifty Oil & Gas and Nifty Financial Services Ex-Bank ended in the red. Nifty FMCG ended in the green. Nifty Realty and Nifty Oil & Gas dropped by over 1.5%.

Top Gainers and Losers

On Thursday, the top gainers on the Nifty included Bajaj AutoNestle India and Hindustan Unilever. In contrast, the losers were ONGCShriram Finance and BPCL.

Oil Prices

As of January 9, 2025, at 03:20 PM, Brent Crude was trading at $76.18, up by 0.03%.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Union Budget 2025: Key Expectations for Boosting India’s Retail Sector

The Indian retail sector has become one of the most dynamic and rapidly evolving industries, driven by the influx of new players and innovative business models. According to IBEF, as of November 2024, the retail industry contributes over 10% to the country’s Gross Domestic Product (GDP) and provides employment to nearly 8% of the workforce. This sector is poised for significant growth, with projections estimating a 9% growth rate from 2019 to 2030.

From a market size of US$ 779 billion in 2019, India’s retail industry is expected to reach US$ 1,407 billion by 2026 and more than US$ 1.8 trillion by 2030. As the Union Budget for 2025 approaches, the industry looks forward to strategic policy measures that could further fuel its expansion and address key challenges.

Current Landscape of the Indian Retail Sector

As per Deloitte’s Budget Expectations 2025 analysis report, the current landscape of the Indian retail sector is shaped by both challenges and opportunities, with varying dynamics across urban and rural markets.

Urban FMCG Sector Slowdown and Its Implications

The urban FMCG sector, a significant contributor to India’s consumption growth, is experiencing a deceleration. The mass-market segment in urban areas has seen a noticeable decline in sales volume growth, particularly in key metropolitan cities, with a drop of over 10% in the last fiscal quarter.

This slowdown is attributed to elevated food inflation, which remains above the Reserve Bank of India’s comfort level, leading to a 15% reduction in average consumption among lower-income urban consumers. However, the premium category has shown resilience, with a 12% year-on-year growth, primarily driven by higher-income groups. This divergence highlights the need for targeted policies in the Union Budget 2025 to revive urban demand while supporting premium segment growth.

Rural Market Resilience and Growth

In contrast, rural markets are demonstrating resilience, with a 6% year-on-year growth in FMCG volume sales, constituting 35% of India’s FMCG market. This growth is reflective of a broader rural economic revival, fueled by favourable monsoon patterns, increased government spending on rural employment schemes like MGNREGA, and a rise in sales of tractors and three-wheelers.

Impact of Quick Commerce on Traditional Retail

Meanwhile, the rise of quick commerce platforms, such as Zepto and Blinkit, is altering the retail landscape, with these platforms capturing a growing share of the urban grocery market. Despite their expansion, the rapid growth of quick commerce is negatively impacting small retail businesses, such as Kirana stores, with reports of a 12% revenue decline in urban areas.

Expectations in the Retail Sector for Union Budget 2025

As per Deloitte’s Budget Expectations 2025 analysis report, there are several key measures expected to be introduced in the upcoming Union Budget to stimulate growth in India’s retail sector.

Expectation 1: Increase Disposable Income through Income Tax Reforms

A key expectation is the introduction of higher income tax exemptions to boost disposable income for middle-income households. It involves relaxing the basic income tax exemption limit under the old regime from ₹2.5 lakh to ₹3.5 lakh, and increasing the standard deduction under the new tax regime from ₹50,000 to ₹75,000.

This change is expected to lead to a 5-7% increase in disposable income for middle-income households, which could drive a 6% rise in consumer spending on FMCG and other essential goods. This is likely to contribute to a 0.7% growth in India’s GDP directly.

With consumption accounting for over 60% of India’s GDP, boosting disposable income is essential to reviving demand in the retail sector. The urban middle class, which forms a significant portion of the consumer goods market, has been cautious in its spending due to stagnant income growth and high inflation. Tax relief would alleviate this financial strain and encourage spending, especially in essential retail sectors.

Expectation 2: Reduce GST on Mass-Consumption FMCG Products

Another expectation is a reduction in the Goods and Services Tax (GST) rates on mass-consumption FMCG products, such as personal care items and packaged foods, from 18% to 12%.

A reduction in GST is expected to lead to an 8% increase in volume sales of mass-market FMCG products. This could result in higher tax collections from increased consumption and a 0.5% boost to the country’s GDP.

Expectation 3: Targeted Tax Incentives for Rural Market Development and Innovation

The rural market, which accounts for over 35% of India’s FMCG consumption, holds significant growth potential. Therefore, a key expectation is the introduction of targeted tax incentives to support rural market development and innovation.

Allocating ₹10,000 crore to the FMCG Rural Growth Fund to strengthen rural distribution networks and provide tax rebates for companies investing in affordable rural product lines. Introducing a 150% weighted tax deduction on R&D expenses for FMCG companies that innovate in sustainable packaging and health-focused products.

These measures are expected to drive a 10% growth in rural FMCG sales, contributing an additional ₹50,000 crore in annual revenue for the industry. The enhanced R&D incentives would encourage innovation in the FMCG sector, leading to the creation of premium, sustainable, and health-oriented product categories with higher profit margins.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Navin Fluorine Share Price Surge 12.98%, Reaches 52-Week High on Jan 9, 2025

On Thursday Navin Fluorine International Limited has been gaining attention. On January 9, 2025, Navin Fluorine share price opened at ₹3,590.30, up from its previous close of ₹3,493.15. At 11:55 AM, the share price of Navin Fluorine was trading at ₹3,946.45, up by 12.98% on the NSE. As of the same time, the stock price touched its 52-week high at ₹4,017.10. 

This rise in the share price was followed by news reports of a sharp increase in global refrigerant gas prices. The rally follows warnings from a major U.S. distributor with large quotas, citing severe supply shortages of key refrigerant gases, R32 and R125. These shortages are causing significant challenges for the HVAC (Heating, Ventilation, and Air Conditioning) industry, which heavily depends on these gases for its operations.

Q2 FY25 Financial Highlights

In Q2 FY25, the company reported a 10% year-on-year (Y-o-Y) increase in net revenue from operations, which rose to ₹518.56 crore, compared to ₹471.79 crore in Q2 FY24. However, there was a slight decline of 1% when compared to Q1 FY25, where the revenue stood at ₹523.68 crore. 

For the first half of FY25 (H1 FY25), net revenue from operations grew by 8% to ₹1,042.24 crore, compared to ₹962.94 crore in H1 FY24. 

Profit after tax (PAT) for Q2 FY25 stood at ₹58.82 crore, marking a 3% decrease from ₹60.58 crore in Q2 FY24, but showed a 15% increase compared to ₹51.20 crore in Q1 FY25. 

For H1 FY25, PAT declined by 10% to ₹110.02 crore, from ₹122.11 crore in H1 FY24.

About Navin Fluorine International Limited

Navin Fluorine International Ltd is mainly involved in producing refrigeration gases, inorganic fluorides, and speciality organofluorines and provides contract research and manufacturing services. 

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

SRF Share Price Surges 13.96% on January 9, 2025

On Thursday SRF Limited has been gaining attention. On January 9, 2025, SRF share price (NSE: SRF) opened at ₹2,500.00, up from its previous close of ₹2,350.95. At 11:26 AM, the share price of SRF was trading at ₹2,679.10, up by 13.96% on the NSE. As of the same time, the stock price touched its day’s high so far at ₹2,680.00.

This surge was followed by news reports about a sharp rise in global refrigerant gas prices. The rally follows warnings from a major U.S. distributor with significant quotas, which highlighted severe supply constraints for key refrigerant gases, R32 and R125. These shortages are creating challenges for the HVAC (Heating, Ventilation, and Air Conditioning) industry, which relies heavily on these gases for its operations.

Q2 FY25 Financial Highlights

The company’s consolidated revenue grew by 8%, from ₹3,177 crore to ₹3,424 crore in Q2 FY25 compared to the corresponding period last year. However, its Earnings Before Interest and Tax (EBIT) fell by 22%, from ₹533 crore to ₹417 crore in Q2 FY25 when compared to CPLY. The Profit After Tax (PAT) also declined by 33%, from ₹301 crore to ₹201 crore in Q2 FY25 compared to the corresponding period last year.

About SRF Limited

SRF Limited launched its first plant in 1974 and since then the company has grown into a manufacturing leader with diverse business segments. With an annual turnover of ₹12,910 crore (US$ 1.6 billion), SRF’s expansive portfolio includes Fluorochemicals, Specialty Chemicals, Packaging Films, Technical Textiles, and Coated and Laminated Fabrics.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Tata Elxsi Share Price Sees 1.89% Rise Ahead of Q3 FY 2025 Results

Tata Elxsi is in focus ahead of the Q3 FY 2025 financial results announcement. On January 9, 2025, Tata Elxsi share price opened at ₹6,525.00, up from its previous close of ₹6,473.50. At 10:22 AM, the share price of Tata Elxsi was trading at ₹6,596.10, up by 1.89% on the NSE. As of the same time, the stock price touched its day’s high at ₹6,615.25.

In December 2024, Tata Elxsi Limited announced to the stock exchanges that its Board of Directors would meet on Thursday, January 9, 2025, to review and approve the audited financial results for the quarter and nine months ending December 31, 2024.

Q2 FY 2025 Financial Highlights

For the second quarter of the financial year 2024-25, the company reported operating revenue of ₹955.1 crore, reflecting a growth of 3.1% quarter-on-quarter (QoQ). The operating margin (EBITDA) stood at 27.9%, a 70 basis points increase in QoQ. Profit Before Tax (PBT) reached ₹298.7 crore, marking an 18.3% QoQ rise, while Profit After Tax (PAT) surged 24.6% QoQ to ₹229.4 crore.

The strong performance was driven by a robust 8.8% QoQ growth in the transportation segment, supported by large deals and significant growth in the SDV (Software-Defined Vehicle) and OEM (Original Equipment Manufacturer) business.

During the quarter, the company secured a landmark multi-year deal worth US$ 50 million from a global OEM headquartered in Europe. The deal spans SDV and various domains of automotive engineering. This strategic engagement will facilitate the development of an SDV platform and drive the next generation of mobility for the world-leading brand.

About Tata Elxsi

Tata Elxsi is one of the leading providers of design and technology services in the world. It offers its services across various industries including Broadcast, Automotive, Communications, Transportation and Healthcare.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

IREDA Share Price in Focus Ahead of Q3 FY25 Financial Results

Indian Renewable Energy Development Agency Limited (IREDA) is in focus ahead of the Q3 FY 2025 financial results announcement. On January 9, 2025, IREDA share price opened at ₹224.90, slightly up from its previous close of ₹223.38. At 10:42 AM, the share price of IREDA was trading at ₹224.27, up by 0.40% on the NSE. As of the same time, the stock price touched its day’s high at ₹227.30.

In December 2024, IREDA announced to the stock exchanges that its Board of Directors would meet on Thursday, January 9, 2025, to review and approve the audited financial results for the quarter and nine months ending December 31, 2024.

Recent Developments 

Earlier this week, Indian Renewable Energy Development Agency Limited has received an “Excellent” rating for its performance in the MoU signed with the Ministry of New & Renewable Energy (MNRE) for the financial year 2023-24, scoring 98.24 (rounded to 98).

The company stated that this marks the 4th consecutive year that IREDA has earned the “Excellent” rating, demonstrating its strong commitment to operational excellence and the highest standards of corporate governance. Over the past three years, IREDA has consistently delivered exceptional results, with scores of 93.50 in FY 2022-23, 96.54 in FY 2021-22, and 96.93 in FY 2020-21. These consistent achievements reflect the organisation’s dedication to advancing India’s renewable energy objectives.

Q2 FY 2025 Financial Highlights

In the second quarter of FY24-25, IREDA reported a total income of ₹1,630.38 crore, marking a 39% growth compared to ₹1,176.96 crore in the same quarter of the previous year. Profit After Tax (PAT) for Q2 stood at ₹387.75 crore, reflecting a 36% increase from ₹284.73 crore in Q2 FY23-24.

For the first half of FY24-25, the company’s total income reached ₹3,141.09 crore, up by 35% from ₹2,320.46 crore in H1 FY23-24. The PAT for H1 was ₹771.44 crore, a 33% rise from ₹579.31 crore during the same period last year.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.