IREDA shares rally 6% as Q3 loan disbursement jumps 41%

Shares of Indian Renewable Energy Development Agency (IREDA) jumped up to 6% to Rs 227.70 after the Navratna PSU said its Q3 loan disbursements rose 41% year-on-year (YoY) to Rs 17,236 crore.

In its Q3 business update, IREDA said loans sanctioned rose 129% YoY to Rs 31,087 crore in the December quarter, while its outstanding loan book is now at Rs 69,000 crore, a growth of 36% YoY.

Listed on stock exchanges in November 2023, IREDA shares have delivered multibagger returns of 113% in the last year but are down around 3% in a 3-month timeframe. The stock is down around 28% from its 52-week high.


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Earlier in Q2, IREDA reported a net profit of Rs 388 crore which was up 36% over Rs 285 crore reported by the company in the year ago period. Revenue from operations in Q2FY25 stood at Rs 1,629 crore, which was up by 38% against Rs 1,177 crore reported by the company in Q2FY24.

On a sequential basis, profit after tax (PAT) was up by 1% over a PAT of Rs 384 crore reported in Q1FY25, while revenue was up 8% versus Rs 1,510 crore posted by the company in the April-June quarter.

IREDA is a Navratna company which works under the aegis of Ministry of New and Renewable Energy (MNRE). IREDA, a Non-Banking Financial Institution is engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy.