IREDA Share Price in Focus After Release of Q3 FY25 Earnings: PAT Rose ~27%

On Jan 9, 2025, Indian Renewable Energy Development Agency (IREDA)  released its results for the quarter (Q3 FY25) and nine months ended December 31, 2024. The company posted a YoY growth of 26.8% in net profit (profit after tax) for Q3 FY25, reaching ₹425.4 crore compared to ₹335.5 crore in the same period last year. On a QoQ basis, IREDA’s PAT rose 10% from nearly ₹388 crore in Q2FY25.

The company’s total revenue from operations rose 35%YoY to ₹1,698.45 crore as compared to almost ₹1,253 crore in the corresponding quarter of the last fiscal. The company’s net interest income (NII) also surged by 39% YoY at ₹622.3 crore, up from ₹448.1 crore in Q3FY24.

On Jan 10, IREDA share price opened at ₹218.35 and reached the day low of ₹211.80 at 09:20 AM. 

IREDA 9M FY25 Performance

IREDA’s revenue from operations increased 35% to ₹4,838 crore for the 9 months ended on December 31, 2024. In addition, the company’s bottom line also saw growth of 31% to ₹1,197 crore, as compared to ₹915 crore in 9M FY24. The company had recently approved loans worth ₹31,087 crore during the quarter, which is a growth of 129% from last year. IREDA had sanctioned loans worth ₹13,558 crore during the year-ago period.

IREDA’s Take on RE Outlook

The company believes that the outlook for India’s Renewable Energy (RE) sector is positive, with major policy announcements & ambitious targets. The nation has achieved 200 GW of non-fossil fuel capacity in FY25 (up to Nov 2024). It is expected that India is aiming for 500 GW of non-fossil fuel-based energy by 2030. 

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