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 second quarter ended September 30, 2022.

The company has posted Profit Before Tax (PBT) of Rs 276.31 crore, which is 76.15 per cent higher as compared to Rs 156.86 crore in the Q2 of the previous financial year. IREDA's net Non-Performing Assets (NPAs) have been reduced to 2.72 per cent in Q2, FY 2022-23 from 4.87 per cent in Q2, FY 2021-22, a significant reduction of 44 per cent YoY.

Pradip Kumar Das, Chairman and Managing Director (CMD), IREDA, highlighted: “IREDA has registered growth in quarterly PBT and PAT by 76.15 per cent and 67.14 per cent respectively, and has also registered a significant reduction in gross and net NPAs, which is a big achievement for any NBFC.”

The CMD highlighted that this would not have been possible without the contribution of Team IREDA. He thanked all employees for their consistent hard work and support. He conveyed his sincere gratitude to RK Singh, Union Minister of Power and New and Renewable Energy, and Bhagwanth Khuba, Minister of State, New & Renewable Energy, Chemicals and Fertilizers, for their continuous guidance and support. /BI/