Indian Renewable Energy Development Agency Ltd. (IREDA), a renewable energy and energy efficiency lender under the Ministry of New & Renewable Energy, has reported an all-time high annual profit after tax (PAT) of INR 865 crore ($105.6 million) and profit before tax (PBT) of INR 1,139 crore in the financial year 2022-23. The figures represent a significant growth of 36% and 37%, respectively, over the previous financial year 2021-22.
IREDA’s net non-performing assets (NPAs) reduced to 1.66% in FY 2022-23 from 3.12% a year ago.
The loan book grew 39% to INR 47,076 crore as on March 31, 2023. The company hit all-time high annual loan sanctions of INR 32,587 crore and disbursements of INR 21,639 crore in FY 2022-23, a year-on-year increase of 36% and 35%, respectively.
The company reached a net worth of INR 5,935 crore as on March 31, 2023.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.