New Delhi: Indian Renewable Energy Development Agency (IREDA), a PSU under the Ministry of New & Renewable Energy (MNRE), has announced audited financial results for the first quarter ended June 30, 2022.

The company has posted Profit Before Tax (PBT) of Rs 339.86 crore, which is 72 per cent higher compared to Rs 197.20 crore in the Q1 of the previous financial year. IREDA’s Net Non-Performing Assets (NPAs) have been reduced to 2.92 per cent in Q1, FY 2022-23 from 4.77 per cent in Q1, FY 2021-22, a significant reduction of 39 per cent YoY.

Pradip Kumar Das, Chairman and Managing Director (CMD), IREDA, said that IREDA has not only clocked its highest ever quarterly PBT of Rs 339.86 crore but has also registered a significant reduction in gross and net NPAs, which is a big achievement for any NBFC.

He thanked all employees for their consistent hard work and support. He conveyed his sincere gratitude to RK Singh, Union Minister of Power, New and Renewable Energy, and Bhagwanth Khuba, Minister of State, New and Renewable Energy, Chemicals & Fertilizers, for their continuous guidance and support. /BI/