Highlights:
- IREDA’s Q4 FY24 net profit jumps 33% to Rs 337.37 crore
- Total income rises to Rs 1,391.63 crore in Q4 FY24
- Expenses stand at Rs 911.96 crore in Q4 FY24
- FY24 profit hits record high of Rs 1,252.23 crore, up 44.83% from FY23
State-owned Indian Renewable Energy Development Agency Ltd (IREDA) reported a 33% increase in its net profit to Rs 337.37 crore for the fourth quarter (Q4) of financial year 2023-24 (FY24). The company’s profit was primarily driven by higher revenue.
IREDA’s total income rose to Rs 1,391.63 crore in Q4 FY24 from Rs 1,036.31 crore a year ago. Its expenses for the period under review stood at Rs 911.96 crore, compared to Rs 747.93 crore in the corresponding period of the previous year.
The company’s net profit for the full year FY24 reached a record high of Rs 1,252.23 crore, up 44.83% from Rs 864.62 crore in FY23. It had clocked a net profit of Rs 253.61 crore during the January-March quarter of FY23.
IREDA, under the Ministry of New and Renewable Energy, is a non-banking financial institution.
