Shares of Indian Renewable Energy Development Agency Ltd (IREDA) declined by 2.41 per cent on the BSE today, trading at ₹210.70 per share at 11.58 am, despite a 26.7 per cent y-o-y surge in its consolidated net profit for the quarter ending December 31, 2024.
During the quarter, IREDA reported a robust financial performance. Revenue surged by 35.6 per cent y-o-y to ₹1,698.45 crore, while net profit jumped 39 per cent to ₹622.3 crore compared to the same period in the previous fiscal. The PSU ‘Navratna’ company achieved a 27 per cent y-o-y growth in net profit, reaching ₹425.38 crore in Q3FY25.
Furthermore, IREDA’s disbursements during the December quarter increased by 41 per cent y-o-y, rising from ₹12,220 crore to ₹17,236 crore.
The stock had previously reached a 52-week high of ₹310 on July 15, 2024, and a low of ₹103 on January 11, 2023, on the BSE.