IREDA Q3 Results Live Updates: Indian Renewable Energy Development Agency Ltd (IREDA), the state-run financier, is set to announce its financial results for the third quarter of FY25 today. In its business update for the third quarter ended December 2024, the company said it sanctioned loans worth ₹31,087 crore in Q3FY25, registering a growth of 129% from ₹13,558 crore during the year-ago period. Its loan disbursements increased 41% YoY to ₹17,236 crore, while loan book outstanding grew by 36% YoY to ₹69,000 crore. Asset quality will be watched out for in IREDA Q3 results. Ahead of the Q3 results today, the PSU stock was trading marginally lower. IREDA shares have given multibagger returns of over 116% in one year.
IREDA Q3 Results Live: What ICICI Sec said on IREDA stock post Q2
Continued government focus on the renewable sector and foray into the retail segment is expected to aid business growth and margins, supporting the delivery of steady return ratios on a sustained basis. Capital raising (approval received) of ₹4,500 crore will strengthen the balance sheet for future growth and remain book accretive. Factoring in the scope of relatively strong business growth, we value the stock at ~6.4x FY26 BV (~43x FY26E EPS), assigning a target of ₹280. Maintain Buy rating on the stock.
IREDA Q3 Results Live: Recoginitions for the company
Indian Renewable Energy Development Agency Limited has been honoured with three awards at the 14th PSE Excellence Awards, organized by the Indian Chamber of Commerce (ICC). The company won Gold Awards in the Mini Ratna category for “Corporate Governance” and “Corporate Social Responsibility & Sustainability.” Additionally, IREDA received the Silver Award for “Operational Performance Excellence.”
IREDA Q3 Results Live: Here’s how the company fared in Q3 of FY24
During the third quarter of fiscal 2024, IREDA’s revenue from operations came in at ₹1,252.85 crore as against ₹868.66 crore in fiscal 2023’s December quarter. Meanwhile, its PAT rose to ₹335.53 crore from ₹200.74 crore.
IREDA Q3 Results Live: Here’s who all held a stake in IREDA as of the September quarter
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IREDA Q3 Results Live: IREDA H1 FY25 Performance
- Revenue grows 35% YoY to ₹3139.83 crore
- PAT rises 33% YoY to ₹771.44 crore
IREDA Q3 Results Live: IREDA share price ends 3.5% lower ahead of Q3 results announcement
IREDA share price tanked 3.5% ahead of the announcement of its December quarter results on Thursday, January 9. The stock settled at ₹215.50 on the BSE as against its last close of ₹223.30.
IREDA Q3 Results Live: Stock Check
The stock has given a consolidation breakout on the daily timeframe, suggesting a rise in optimism, said Rupak De, Senior Technical Analyst at LKP Securities.
“Additionally, the stock has been sustaining above 50-day Exponential moving average (EMA). The RSI is in a bullish crossover, suggesting a rise in positive momentum. On the upside, the stock may move towards 250. Support is placed at 219, below which the stock could weaken,” he added.
IREDA is currently trading 1.5% lower at ₹219.80 on the BSE.
IREDA Q3 Results Live: Key financial ratios of the company as of the September quarter
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IREDA Q3 Results Live: A look at company’s NPAs in Q2 FY25
- Its gross NPA stood at ₹1415 crore, down 5% from ₹1486 crore YoY. Its net NPA also declined by 14% YoY to ₹666 crore from ₹771 crore.
- In percentage terms, GNPA was 2.91% while NNPA was 1.04%.
IREDA Q3 Results Live: IREDA posts multibagger returns in last year, up over 600% from IPO price
IREDA share price has fallen 10% in the last six months. However, the stock has rallied 113% in the last one year, giving multibagger returns to investors. Meanwhile, the stock has rallied over a staggering 609% from IPO price of ₹32 to today’s high of ₹227.
IREDA Q3 Results Live: A snapshot of financial performance in the September 2024 quarter (Q2)
IREDA’s revenue from operations increased by 38% YoY to ₹1,630 crore in the September quarter of financial year 2024-25 (Q2 FY25). The figure stood at ₹1,177 crore in Q2 FY24.
Similarly, the profit after tax (PAT) also witnessed a healthy growth of 36% YoY to ₹388 crore from ₹285 crore.
IREDA Q3 Results Live: IREDA’s performance track record
– Highest Domestic Credit Ratings of ‘AM/Stable’ for Long Term Borrowings
– The International Credit Rating Agency, S&P Global Ratings Limited, assigned ‘BBB-‘ long-term and ‘A-3’ short-term issuer credit ratings with Outlook ‘Stable’
– Consistently been rated ‘Excellent’ as per MOU with MNRE since Fiscal 2021
IREDA Q3 Results Live: Brief overview of IREDA
Indian Renewable Energy Development Agency (IREDA) is a government-owned company that provides financial assistance and other services for projects related to renewable energy and energy efficiency.
The company has over 37 years of experience. The government owns 75% stake in the company. It is classified as Navratna & Schedule A CPSE.
It is also India’s largest pure-play green financing NBFC. Here are some highlights of the company
– Comprehensive suite of financial products and related services for RE Sector
– Infrastructure Finance Company status by RBI
– Systemically Important Non-Deposit Taking NBFC
– Incorporated Wholly Owned Subsidiary Company in IFSC – GIFT City
IREDA Q3 Results Live: Loan book outstanding grows by 36% YoY
Loan book outstanding stood at ₹69,000 crore in Q3 FY25 for IREDA, showed provisional business update. This is an increase of 36% YoY over ₹50,580 crore posted in Q3 FY24.
IREDA Q3 Results Live: Loan disbursements rise by 41% YoY in Q3 FY25
IREDA reported a 41% increase in its loan disbursements during Q3 FY25 to ₹17,236 crore. The figure stood at ₹12,220 crore in the same period last year.
IREDA Q3 Results Live: IREDA bags ‘Excellent’ rating for its performance for 4th year
Indian Renewable Energy Development Agency Limited (IREDA) has been awarded an ‘Excellent’ rating for its performance under the MoU signed with the Ministry of New & Renewable Energy (MNRE) for the financial year 2023-24, scoring 98.24 (rounded to 98). This marks the fourth consecutive year that IREDA has earned an ‘Excellent’ rating, demonstrating its strong commitment to operational excellence and corporate governance.
Over the past three years, IREDA has consistently achieved outstanding results, receiving ‘Excellent’ ratings with scores of 93.50 in FY 2022-23, 96.54 in FY 2021-22, and 96.93 in FY 2020-21. These consistent accomplishments highlight the organization’s dedication to advancing India’s renewable energy objectives.
IREDA Q3 Results Live: Loan sanctioned during Q3 surged 129% YoY
IREDA shared its provisional business update for the December 2024 (Q3) quarter. The company informed exchanges that the loan sanctioned during Q3 surged 129% to ₹31,087 crore as against ₹13,558 crore in the same quarter last year.
IREDA Q3 Results Live: IREDA share price trades on lacklustre note ahead of Q3 results
IREDA share price was trading at ₹222.35 per share, down 0.43% ahead of the Q3 results earnings announcement.
IREDA Q3 Results Live: IREDA set to announce Q3 results today
IREDA Q3 Results Live: Indian Renewable Energy Development Agency Ltd (IREDA), the state-run financier, is set to announce its financial results for the third quarter of FY25 today. The meeting of the company’s board of directors is scheduled today to approve financial results for the quarter ended December 2024.
