IREDA Q4 results 2024: Net profit climbs to all-time high on 44.83% YoY growth, NPA below 1%. Top 5 takeaways

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IREDA Q4 results 2024: The Indian PSU (Public Sector Undertaking) company Indian Renewable Energy Development Agency (IREDA) Ltd announced its Q4 results 2024 on Friday evening. The state-owned company declared an impressive number during the recently ended March 2024 quarter both sequentially and yearly. On account of higher income, the state-owned company reported a net profit of ₹337.37 crore in Q4FY24, logging a YoY growth of 33% against the company's net profit in Q4FY23.

INDIAN'S largest pure-play green financing NBFC reported YoY growth of 44.83 percent in PAT (Profit After Tax) and climbed to an all-time high of ₹1252.23 crore. The PSU also managed to bring down its Non-Performing Asset (NPA) to 0.99% in FY 2023-24 from 1.66% in FY 2022-23. Informing the Indian exchanges about the Q4 results 2024, IREDA said, "IREDA has achieved an all-time high annual Profit After Tax (PAT) of Rs.

1252.23 crore, marking an impressive growth of 44.83% over the previous fiscal year 2022-23. The company has successfully reduced its Net Non-Performing Assets (NPAs) to 0.99% in FY 2023-24 from 1.66% in FY 2022-23, demonstrating a significant reduction of 40.52% year-on-year." The Loan Book of IREDA has grown from ₹47,052.52 crores as of 31st March 2023 to ₹59,698.11 crores as of 31st March 2024 (registering a growth of 26.81%). The company has achieved all-time high annual Loan Sanctions of ₹37,353.68 crore and Disbursements of ₹25,089.04 crore in Financial Year 2023-24, registering an increase of 14.63% and 15.94% respectively, over the previous financial year loan sanctions of ₹32,586.60 crore and disbursements of ₹21,639.21 crore.