The state-owned company Ireda reported a slight increase in its net profit on certain indicators to 554 billion rupees for the September quarter. Previously, in the second quarter of the last fiscal year, the net profit was 549 billion rupees.
For the period from July to September, the company's operating revenue increased by 14 percent, reaching 2,345 billion rupees compared to 2,057 billion rupees a year earlier. Meanwhile, the volume of issued loans increased by 31 percent, amounting to 10,579 billion rupees versus 8,062 billion rupees in the previous year's quarter.
The total loan portfolio grew by 15 percent, reaching 97,411 billion rupees, whereas it was 84,477 billion rupees in Q2 FY26. Furthermore, the company's net capital increased by 11 percent, reaching 14,337 billion rupees compared to 12,920 billion rupees a year earlier.
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Bijay Kumar Mohanty, Chairman and Managing Director of Ireda, noted that the company's results for Q2 FY27 reflect the stability of fundamental business indicators and an orientation towards qualitative growth. He emphasized that the 31 percent increase in loan issuance and the 15 percent increase in the loan portfolio indicate a constant demand for project financing in the renewable energy sector across the country.
He also specifically highlighted the significant improvement in asset quality, noting the reduction in the net level of non-performing loans (Net NPAs) to 1.08 percent from the previous 1.97 percent, which demonstrates the effectiveness of the risk management and monitoring system.
Ireda operates as a state-owned Non-Banking Financial Company (NBFC) under the aegis of the Ministry of New and Renewable Energy (MNRE), focusing on financing projects in the field of renewable energy in India.