Indian Renewable Energy Development Agency Q2 Results Achieves Revenue of ₹387.75 Crore

Indian Renewable Energy Development Agency Q2 Results: The table shows the financial results of the Indian Renewable Energy Development Agency (IREDA) for the second quarter (Q2) of 2024. In this quarter, IREDA made a total revenue of ₹1612.21 crore, which is a 37.11% year-over-year (YoY) increase compared to ₹1175.83 crore in Q2 2023. This growth shows how well the company has performed over the years. The profit for this quarter also increased by 36.18% YoY, reaching ₹387.75 crore, compared to ₹284.73 crore in the same quarter last year. This strong performance indicates that IREDA is becoming more profitable.

Indian Renewable Energy Development Agency’s revenue grew by 6.45% from ₹1514.46 crore in Q1 2024. However, the operating income decreased by 8.23% QoQ, indicating some challenges compared to the previous quarter, where it was ₹516.6 crore. The earnings per share (EPS) rose by 29.45% YoY to ₹1.55, showing strong shareholder returns. Overall, IREDA's Q2 results highlight significant growth year-over-year, showing a healthy financial trend despite some fluctuations quarter-on-quarter. This performance indicates that IREDA is on a positive path in the renewable energy sector.

Here’s the summary of Indian Renewable Energy Development Agency’s (IREDA) Q2 2024 results in a table format:

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Indian Renewable Energy Development Agency Q2 Results

The Indian Renewable Energy Development Agency table presents the financial performance for the quarter and half-year ending on September 30, 2024. It shows how much money the agency made and spent during these periods.

Indian Renewable Energy Development Agency earned ₹1,63,038.15 lakhs from its operations. This is more than what it made in the previous quarter, which was ₹1,51,070.70 lakhs. The agency's total income for this quarter was ₹1,63,121.39 lakhs, which includes revenue from interest and other sources. However, it also faced expenses. For example, its finance costs were quite high at ₹3,234.84 lakhs. Despite these costs, IREDA managed to make a profit of ₹38,774.96 lakhs after taxes.

This profit is important because it shows that the Indian Renewable Energy Development Agency is successfully investing in renewable energy projects and supporting India's transition to cleaner energy. The agency's earnings per share, a measure of profitability for shareholders, was ₹5.18. Overall, these results indicate that IREDA is performing well financially and continues to play a vital role in promoting renewable energy development in India.

Here’s the financial data presented in a clear table format for easier reading:

Indian Renewable Energy Development Agency Stock Metrics

The Indian Renewable Energy Development Agency (IREDA) focuses on promoting and developing renewable energy in India. Its market capitalization is ₹59,991 crore, reflecting its overall size and value in the market. The current stock price is ₹223, with a high of ₹310 and a low of ₹50 over a specific period. The Price-to-Earnings (P/E) ratio is 41.5, indicating investors are willing to pay a premium for its earnings.

Here’s the information in table format:

Quarterly Results 

The Indian Renewable Energy Development Agency (IREDA) showed strong financial results for March, June, and September 2024. In March 2024, their revenue was ₹1,391 crores, which increased to ₹1,510 crores in June and reached ₹1,630 crores by September. This growth reflects the rising demand for renewable energy projects in India. The financing profit was slightly stable, with ₹488 crores in March and dropping to ₹468 crores in September. The net profit also showed a positive trend, rising from ₹337 crores in March to ₹388 crores in September. 

Here are the quarterly results for March 2024, June 2024, and September 2024:

About Indian Renewable Energy Development Agency

The Indian Renewable Energy Development Agency (IREDA) is a public sector company in India that was founded in 1987. Its main goal is to support projects related to renewable energy and energy efficiency. IREDA provides financial assistance to help set up projects that use solar, wind, and other renewable sources of energy. The agency is owned by the Government of India, which holds a 75% share, and it operates under the Ministry of New and Renewable Energy.

In 2023, IREDA became a publicly listed company, allowing people to buy shares in it on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). The agency aims to promote green energy and help India transition to sustainable energy solutions. With significant revenue and assets, IREDA plays a vital role in India's efforts to increase renewable energy capacity and reduce dependence on fossil fuels.