IREDA Q1: PSU company to announce results on July 12, check details here

IREDA Q1: Indian Renewable Energy Development Agency Limited will declare its Q1 results on Friday, July 12, 2024. The company has intimated the date of the board meeting and declaration of financial statement for Q2 in a stock filing on July 3, 2024.

According to SEBI norms, ‘trading window’ for company securities was  closed from July 1, till 48 hours after declaration of Q1 financial results.

In November 2023, the company went public and offered shares at ₹32 in its initial public offering (IPO). The stock listed at a 56.25 per cent premium over the IPO issue price. IREDA is the second public sector unit to go public after LIC.

The public sector company reported a net profit of ₹337.37 crore in Q4FY24, registering a YoY growth of 33%.

Q4 also marked the highest loan disbursement in the history of the company. The Loan Book of IREDA grew to ₹59,698.11 crore as of March 31, 2024, from ₹47,052.52 crore in the same quarter the previous year, a 26.81% growth.

The company has achieved all-time high annual loan sanctions of ₹37,353.68 crore and disbursements of ₹25,089.04 crore in financial year 2023-24, registering an increase of 14.63% and 15.94% respectively, over the previous financial year loan sanctions of ₹32,586.60 crore and disbursements of ₹21,639.21 crore. 

Recently, IREDA raised ₹1500 crore through issuance of bonds which was oversubscribed by 2.65 times. IREDA is a non-banking financial company focused on financing the renewable energy sector under the Ministry of New and Renewable Energy.