Business · India Bureau
Ireda profit climbs to ₹554 crore as renewable lending accelerates
State-owned renewable energy financier Ireda reported a marginal profit growth in the second quarter, buoyed by a sharp 31% surge in loan disbursements that signalled robust demand for clean energy funding.
LSN India ·
The Indian Renewable Energy Development Agency (Ireda) posted a standalone net profit of ₹554 crore for the July-September quarter, marginally up from ₹549 crore in the same period last year, the company announced on Monday.
The state-owned financier's revenue from operations rose 14% to ₹2,345 crore during the quarter, compared with ₹2,057 crore a year earlier. The expansion was underpinned by accelerating activity in renewable energy lending, with loan disbursements surging 31% to ₹10,579 crore from ₹8,062 crore in the corresponding quarter of the previous fiscal year.
Ireda's overall loan portfolio expanded 15% to ₹97,411 crore as on September 30, up from ₹84,477 crore a year ago, reflecting sustained investor appetite for clean energy projects. The company's net worth grew 11% to ₹14,337 crore during the quarter, compared with ₹12,920 crore in the year-ago period.
The results underscore Ireda's growing role in channelling capital towards India's renewable energy expansion. The agency's improved lending velocity aligns with the government's push to scale up clean energy capacity as part of its broader climate and energy security objectives.