IREDA logs highest-ever net profit in FY24

(20 second reading) Ireda the nation’s largest pure-play green financing NBFC achieved an all-time high net profit after tax of Rs.1252.23 crore, marking an impressive growth of 44.83% over the previous fiscal year 2022–23. The loan book of IREDA grew from Rs.47,052.52 crore as of March 31, 2023, to Rs. 59,698.11 crore as of March 31, 2024, registering a growth of 26.81%.
The company has successfully reduced its net NPA to 0.99% in FY 2023–24 from 1.66% in FY 2022–23, demonstrating a significant reduction of 40.52% YoY.
Its stock witnessed an 11.40% surge reaching Rs. 179 apiece.