IREDA Shares Soar as Company Posts 36% Profit Growth in Q2 FY25 – What Investors Need to Know

IREDA (Indian Renewable Energy Development Agency) shares are expected to be in the spotlight on Friday after the company announced strong financial results for the July-September quarter (Q2 FY25). The PSU reported a net profit of ₹388 crore, marking a 36% increase from ₹285 crore in the same period last year. Revenue also jumped 38%, reaching ₹1,629 crore compared to ₹1,177 crore in Q2 FY24.

On a quarter-to-quarter basis, the company’s profit after tax (PAT) rose slightly by 1%, from ₹384 crore in the previous quarter (Q1 FY25), while revenue increased by 8% from ₹1,510 crore.

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IREDA’s expenses surged 47% year-on-year, reaching ₹1,170 crore in Q2 FY25, compared to ₹797 crore in the same period last year. The company’s profit before tax (PBT) for the quarter stood at ₹460 crore, higher than last year’s ₹380 crore but lower than ₹476 crore in Q1 FY25.

As of this quarter, IREDA’s cash and cash equivalents totaled ₹494 crore, up from ₹360 crore in the same quarter last year. IREDA, a Navratna company under the Ministry of New and Renewable Energy (MNRE), focuses on financing renewable energy projects. Since its stock market listing on November 29, 2023, IREDA shares have delivered impressive gains of 290%.