Indian Renewable Energy Department Agency Limited (IREDA) has recorded a net profit of Rs 2.95 billion during quarter ended June 2023, recording an increase of 30 per cent as compared to the net profit of Rs 2.26 billion recorded in the corresponding quarter of previous year.
The company’s total income from operations has increased by 45 per cent to Rs 11.43 billion during quarter ended June 2023 from Rs 7.86 billion recorded in the corresponding period of previous year. IREDA has also demonstrated a significant reduction in net non-performing assets, bringing them down to 1.61 per cent in first quarter of 2023-24 from 2.92 per cent in first quarter of 2022-23, representing a 45 per cent reduction on a year-on-year basis.