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IREDA receives highest ever half yearly profit

“The Profit after Tax of the IREDA was highest ever at Rs 299 crore in the first half of this year. Similarly, the total Income from Operation also increased to Rs 1386.97 crore against 1284.94 crores,” said a senior officer of the Ministry here on Saturday.

SNS | New Delhi |

India’s leading renewable energy government company, the Indian Renewable Energy Development Agency (IREDA) posted the highest ever profit during the first half of this fiscal year, claimed the Ministry of New and Renewable Energy.

“The Profit after Tax of the IREDA was highest ever at Rs 299 crore in the first half of this year. Similarly, the total Income from Operation also increased to Rs 1386.97 crore against 1284.94 crores,” said a senior officer of the Ministry here on Saturday.

He said the company’s net worth has also increased to Rs 333.19 crore—up by 22 % and the net NPA (Non Performing asset) has also come down to 4.87—a reduction by 16 %. Besides, the company has also sanctioned a Rs 5925 crore loan, which is an increase of 405 %, out of which Rs 3584.9 crore has already been disbursed, the Ministry said.

The Indian Renewable Energy Development Agency (IREDA) is a PSU under the Ministry of New & Renewable Energy (MNRE). “The company has posted Total Income from Operations of Rs. 684.80 crore and Profit After Tax (PAT) of Rs. 110.27 crore for Q2 FY22. The company has reported an all-time high half-yearly PAT of Rs. 299.90 crore,” the Ministry stated.