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IREDA shares hit record high after strong December quarter results



© Reuters.

NEW DELHI – Today, shares of the Indian Renewable Energy Development Agency (IREDA) reached a historic high following the release of its impressive financial performance for the December quarter. The robust results, which included a significant increase in net profit, revenue and EBITDA, were met with investor enthusiasm, sending IREDA’s stock value soaring to nearly one hundred fifty rupees post its listing in late November.

The financial details released today highlighted the following achievements for IREDA in the December quarter:

– An exceptional net profit of Rs 335.5 crore, marking an impressive growth rate of over two-thirds from the previous quarter, largely due to loan book expansion and a decrease in non-performing assets (NPAs) from above two percent down to just over one and half percent year-on-year.

– A remarkable rise in revenue to Rs 1,252.9 crore, signaling strong company growth and representing an increase of almost half again as much as last year.

– An impressive increase in EBITDA to Rs 1,154 crore, reflecting improved operational efficiency and resulting in operating margins that expanded well beyond ninety percent.

These results reflect IREDA’s commitment under the leadership of Pradip Kumar Das towards enhancing renewable energy adoption across India. The surge in IREDA’s shares comes as a direct response to the company’s latest financial report, signaling investor confidence in its growth trajectory and operational success. The performance metrics indicate that IREDA is not only expanding its financial footprint but also enhancing its operational capabilities, which is a positive sign for stakeholders and the renewable energy sector in India.

The company’s strong start since its listing in late November, which was more than fifty-six percent above the initial issue price, has led to a monthly surge in share price of over forty percent and pushed its market valuation upwards of forty thousand crore rupees. This unprecedented high value illustrates the market’s confidence in IREDA’s growth and its role in the renewable energy sector.

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