New Delhi: Shares of Indian Renewable Energy Development Agency (IREDA) witnessed a bumper rise on Wednesday, January 1, 2025. Its shares saw a rise of 6% today, after which it reached 227.70. In fact, Navratna PSU IREDA said in its Q3 business update that loan disbursement increased by 41% year-on-year in the December quarter and reached Rs 17,236 crore.

Tremendous increase in loan sanction and outstanding book

According to IREDA, loan sanction has increased by 129% in Q3 and has reached Rs 31,087 crore. At the same time, the company's outstanding loan book is now at Rs 69,000 crore, which shows a growth of 36% on an annual basis.

Multibagger returns in one year

Let us tell you that the shares of IREDA, listed in November 2023, have performed tremendously in the last one year. Its shares have given a multibagger return of 113% during the last one year. However, the stock has fallen by about 3% in the last three months and is about 28% below its 52-week high.
 

IREDA September Quarterly Result 2024

For the record, IREDA's net profit in the second quarter of FY 2025 was Rs 388 crore, as against Rs 285 crore in the same period last year. At the same time, revenue from operations stood at Rs 1,629 crore, showing a 38% increase on an annual basis. On a sequential basis, the PAT of Q2 was 1% higher than Rs 384 crore, while revenue grew by 8%. Let us tell you that IREDA is a Navratna company. It works under the Ministry of New and Renewable Energy (MNRE) of the Government of India.