IREDA Q3 PAT up 27% YoY backed by higher income
Indian Renewable Energy Development Agency (IREDA) Ltd’s net profit for the quarter ended December rose by over a fourth year-on-year to Rs 425.4 crore led by an increase in interest income.
Revenue from operations of the non-banking financial company for the reporting quarter rose 36% on year to Rs 1,698 crore.
Net non-performing assets ratio improved marginally to 1.50% as against 1.52% in the corresponding period a year back.
Net interest margin grew to 3.33% against 3.20% in the corresponding period a year back. Cost of borrowing fell to 7.68% compared with 7.82% in the same period last year.
Loan sanctions during the quarter was Rs 13,227 crore, up 45% year-on-year.
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