New Delhi: Indian Renewable Energy Development Agency Ltd (IREDA), the largest renewable energy funding company in the country, has reported an all-time high annual profit after tax (PAT) of Rs 865 crore and profit before tax (PBT) of Rs 1,139 crore in the financial year 2022-23.

The figures represent a significant growth of 36 per cent and 37 per cent respectively over the previous financial year 2021-22. IREDA’s net non-performing assets (NPAs) have been reduced to 1.66 per cent in FY 2022-23 from 3.12 per cent in FY 2021-22, a significant reduction of 47 per cent in percentage terms on a year-on-year basis.

The loan book of IREDA has grown from Rs 33,931 crore as on 31st March 2022 to Rs 47,076 crore as on 31st March 2023, registering a growth of 39 per cent. The company has achieved all-time high annual loan sanctions of Rs 32,587 crore and disbursements of Rs 21,639 crore in Financial Year 2022-23, registering an increase of 36 per cent and 35 per cent respectively.

Pradip Kumar Das, Chairman and Managing Director, IREDA, attributed the growth of the company to the trust and support of stakeholders. He reaffirmed that IREDA stands fully committed towards achieving Prime Minister Narendra Modi’s ‘Panchamrita’ targets and to be an integral part in achieving the 500 GW of non-fossil fuel-based installed capacity by 2030. /BI/