IREDA registers all-time high half-yearly net profits at Rs 299.90 crore

The Indian Renewable Energy Development Agency (IREDA), a public sector unit (PSU) under the Ministry of New and Renewable Energy (MNRE) has reported an all-time high, half-yearly profits after tax (PAT) of Rs. 299.90 crore.

In its recently announced audited financial results for the half-year-1 and quarter-2 financial year (FY) 2021-22 ending September 30, 2021, the company has posted a total income from operations of Rs 684.80 crore and profit after tax (PAT) of Rs 110.27 crore for Q2 FY22, said the ministry.

The Board of Directors of IREDA which approved the audited financial results for H1 and Q2 FY 2021-22 ending 30th September 2021 has lauded the company’s performance and growth.

The highlights of the half-yearly results as compared to the corresponding period in the previous year includes: Profit After Tax grown to Rs 299.90 crore against Rs 206.63 crore.

Total Income from operations has increased to Rs 1386.97 crore against Rs1284.94 crore. It’s up by 8 percent.

The reduction in net non-performing- assets in percentage terms is 4.87 percent against 5.79 percent in the previous year. It’s a reduction of 16 percent

The PSU’s net worth has gone up by 22 percent to Rs 3333.19 crore as against Rs 2742.98 crore.

Meanwhile, the company’s loan sanctions have also risen by 405 percent and the loan disbursement increased by 76 percent.

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