IREDA Sees Slight Dip in Q4 Profit Amid Rising Expenses
IREDA reported a 1.77% decline in its net profit for the March quarter. Despite this, the company's annual profit reached an all-time high. Increased expenses were a key factor in the quarterly dip, while the company's yearly income and loan operations showed significant growth.
- Country:
- India
The Indian Renewable Energy Development Agency (IREDA), a state-owned non-banking financial company, reported a slight 1.77% decline in net profit for the March quarter, totaling Rs 492.63 crore. The drop was mainly due to increased expenses, compared to Rs 501.55 crore profit during the same period last year.
Despite the quarterly profit decline, IREDA's annual performance showed significant growth with a net profit of Rs 1,874 crore for FY26, up from Rs 1,698 crore the previous year. The company also achieved record annual income, rising to Rs 8,338.89 crore. The board has proposed a final dividend of Rs 0.75 per share, setting the total yearly dividend at Rs 1.35 per share after an interim dividend of Rs 0.60 per share.
The company's loan activities demonstrated robust growth, with loan sanctions increasing by 9% to Rs 51,883 crore and disbursements up by 16% to Rs 34,946 crore. The loan book expanded by 22%, reflecting strong institutional performance. IREDA managing director Pradip Kumar Das highlighted the strategic expansion and resilience in promoting India's renewable energy transition.
(With inputs from agencies.)
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