IREDA Shares Extend Gains for the Fourth Straight Day

On November 28, 2024, the Indian Renewable Energy Development Agency share price traded 4.67% higher at ₹206.50 at 11:30 AM on the NSE. The shares opened at ₹200.70, higher than its previous close of ₹197.15. Indian Renewable Energy Development Agency gained 3.70% in the last 5 days.

IREDA Hydroelectric Project in Nepal

In September, the Indian Renewable Energy Development Agency (IREDA) entered into a memorandum of understanding with SJVN, GMR Energy, and their partners to aid the development of a 900 MW hydroelectric project in Nepal.

IREDA Q2 FY25 Financial Highlight

State-owned IREDA reported a 36% increase in profit after tax, reaching ₹387.75 crore for the September quarter, driven by higher revenues. In the same quarter last year, the PAT was ₹284.73 crore.

Total revenue from operations surged by 38.52% to ₹1,630.38 crore in the July-September quarter of fiscal 2025, up from ₹1,176.96 crore.

IREDA’s loan book grew by 35.88%, rising to ₹64,564.36 crore from ₹47,514.48 crore during the same period last year.

Loan sanctions also saw a significant jump, increasing nearly four times to ₹8,723.78 crore compared to ₹2,852.05 crore in the second quarter of the previous fiscal year.

About IREDA

IREDA focuses on financing renewable energy and energy efficiency projects, providing loans and financial assistance to public and private sector entities. It plays a pivotal role in India’s transition to cleaner energy by supporting projects in wind, solar, hydroelectric, biomass, and other renewable sources.

IREDA also facilitates the adoption of energy-efficient technologies and promotes sustainable development through its financial products. By offering competitive financing options, the agency has contributed significantly to India’s renewable energy capacity, helping meet the country’s ambitious climate and energy goals.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.