IREDA posts 77% rise in profit at Rs 355 crore in Oct-Dec quarter

New Delhi: State-owned IREDA on Saturday posted a 77 per cent rise in net profit at Rs 355.54 crore during the quarter ended December 2023, pushed by higher income.

It had clocked Rs 200.75 crore net profit during the October-December period of the preceding 2022-23 fiscal, the company said in an exchange filing.

During the quarter under review, the company's total income surged to Rs 1,253.19 crore, from Rs 868.97 crore a year ago.

Its expenses were Rs 867.05 crore in the period under review, as against Rs 634.27 crore in the year-ago period.

The equity shares of the company were listed on BSE and National Stock Exchange on November 29, 2023.

IREDA, under the Ministry of New and Renewable Energy, is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy and energy efficiency/conservation.