Indian Renewable Energy Development Agency Ltd. (IREDA), a renewable energy and energy efficiency lender under the Ministry of New & Renewable Energy, has reported an all-time high annual profit after tax (PAT) of INR 865 crore ($105.6 million) and profit before tax (PBT) of INR 1,139 crore in the financial year 2022-23. The figures represent a significant growth of 36% and 37%, respectively, over the previous financial year 2021-22.
IREDA’s net non-performing assets (NPAs) reduced to 1.66% in FY 2022-23 from 3.12% a year ago.
The loan book grew 39% to INR 47,076 crore as on March 31, 2023. The company hit all-time high annual loan sanctions of INR 32,587 crore and disbursements of INR 21,639 crore in FY 2022-23, a year-on-year increase of 36% and 35%, respectively.
The company reached a net worth of INR 5,935 crore as on March 31, 2023.
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