New Delhi: The Indian Renewable Energy Development Agency (IREDA), a public sector undertaking under the Ministry of New and Renewable Energy (MNRE), on Saturday reported a 67.14 per cent increase in its net profit. 184.30 crore for the second quarter ending September 2022.
The company had recorded the pat of 110 crore in the same quarter of the previous financial year (2021-22).
The company has posted profit before tax (PBT) 276.31 crores, which is 76.15% higher than 156.86 crore in the second quarter of the last financial year,” the Ministry of New and Renewable Energy said in a statement.
“IREDA’s net non-performing assets (NPAs) have reduced to 2.72% in Q2, FY 2022-23, from 4.87% in Q2, FY 2021-22, a significant decrease of 44% YoY,” it said.
PSU sanctioned loan 11,226 crore in the quarter ended September 2022, 89% more than the sanctioned loans 5,925 crore in the same quarter of the previous financial year.
Pradeep Kumar Das, Chairman and Managing Director (CMD), IREDA.
The CMD, IREDA highlighted that this would not have been possible without the contribution of Team IREDA. He thanked all the employees for their continuous hard work and support.
He expressed his gratitude to Union Minister of Power and New and Renewable Energy RK Singh and Minister of State for New and Renewable Energy, Chemicals and Fertilizers Bhagwant Khuba for their continued guidance and support.
Das also expressed his gratitude for the enduring support received from the Secretary and other officers of MNRE and the Board of Directors.
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