Indian Renewable Energy Development Agency Ltd. (IREDA), the nation’s largest pure-play green financing NBFC, has achieved an all-time high annual Profit After Tax (PAT) of Rs. 1252.23 crores, marking an impressive growth of 44.83% over the previous fiscal year 2022-23. The company has successfully reduced its Net Non-Performing Assets (NPAs) to 0.99% in FY 2023-24, from 1.66% in FY 2022-23, demonstrating a significant reduction of 40.52% year-on-year.
The Loan Book of IREDA has grown by 26.81%, from Rs. 47,052.52 crores as on 31st March, 2023 to Rs. 59,698.11 crores as on 31st March, 2024. The company has achieved all-time high annual Loan Sanctions of Rs. 37,353.68 crores and Disbursements of Rs. 25,089.04 crores in Financial Year 2023-24, registering an increase of 14.63% and 15.94% respectively, over loan sanctions of Rs. 32,586.60 crores and disbursements of Rs. 21,639.21 crores in the previous year. This marks the highest annual loan disbursement and sanction in the history of the company.
The net-worth of the company has grown by 44.22%, having reached Rs. 8,559.43 crores as on 31st March, 2024 as against Rs. 5,935.17 crores for the year ending 31st March 2023.
On the occasion of announcement of the unprecedented audited financial results for the fiscal year 2023-24, the Board of Directors of IREDA commended the company’s exceptional performance and sustained growth at a meeting held at the company’s Registered Office on April 19, 2024.
