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IREDA registers all-time high half-yearly profit after tax – EQ Mag Pro

IREDA registers all-time high half-yearly profit after tax – EQ Mag Pro

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The Indian Renewable Energy Development Agency, announced audited financial results for half-year-1 and quarter-2 FY 2021-22 ending September 30, 2021

The Indian Renewable Energy Development Agency (IREDA), a public sector unit (PSU) under the Ministry of New and Renewable Energy (MNRE) on Saturday announced audited financial results for half-year-1 and quarter-2 financial year (FY) 2021-22 ending September 30, 2021.

According to the Ministry of New and Renewable Energy, 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.

The company has reported an all-time high half-yearly PAT of Rs. 299.90 crore, said the ministry.

The Board of Directors of IREDA approved the Audited Financial Results for H1 and Q2 FY 2021-22 ending 30th September 2021 in a meeting held today while lauding the company’s performance and growth.

The company’s profit after tax grew to Rs. 299.90 crore whereas its total income from operations increased to Rs. 1386.97 crore, up by 8 per cent.

IREDA’s non-performing assets reduced by 16 per cent while its net worth grew by 22 per cent.

The company’s loan sanctions rose by 405 per cent and the loan disbursement increased by 76 percent.

Source : PTI

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Anand Gupta Editor - EQ Int'l Media Network