IREDA Q1 results: Profit after tax jumps to Rs 38,369.34 lakh
Jul 12, 2024, 20:54 IST
The Indian Renewable Energy Development Agency (IREDA) declared its Q1 FY25 results. For the April-June quarter, the company's revenue from operations stood at Rs 1,510.71 crore, up from Rs 1,391.64 crore as of March 31, 2024. The company's net profit after tax also inched up from Rs 337.38 crore in the previous quarter to Rs 383.69 crore as of June 30th, 2024.
The company's net worth also saw a significant jump from Rs 8,599.43 crore as of March 31st, 2024, to Rs 9,110.49 crore as of June 2024. For the quarter ended June 2023, IREDA's net worth was Rs 6,290.40 crore. On a year-on-year basis, the company also managed to bring down its debt-equity ratio from 6.35 as of June 2023 to 5.83 as of June 2024. Notably, a lower debt-equity ratio indicates that the company does not have high debts commensurate with its equities and is relatively debt-free.
On a year-to-year basis, the company also succeeded in bringing down its net non-performing asset ratio from 1.61% during the same period last year to 0.95% during April–June 2024. At a little over 25%, the company largely kept its net profit margins steady.
At the close of day's trade today, IREDA was trading at Rs 284.00, up by 0.11%.The stock has had an impressive year so far, generating a YTD (yield-to-date) of about 171%. However, the last quarter saw IREDA's operating margins shrink slightly on a YoY basis, from 38.42% as of June, 23 to 31.47% as of June 2024.
The company's EPS (earning per share) also inched up from 1.29 in June 2023 to 1.43 as of June 30th, 2024. Recently, the company raised Rs 2,500 crore via private placement in June 2024, for general corporate purposes and funding renewable energy projects.
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The company's net worth also saw a significant jump from Rs 8,599.43 crore as of March 31st, 2024, to Rs 9,110.49 crore as of June 2024. For the quarter ended June 2023, IREDA's net worth was Rs 6,290.40 crore. On a year-on-year basis, the company also managed to bring down its debt-equity ratio from 6.35 as of June 2023 to 5.83 as of June 2024. Notably, a lower debt-equity ratio indicates that the company does not have high debts commensurate with its equities and is relatively debt-free.
On a year-to-year basis, the company also succeeded in bringing down its net non-performing asset ratio from 1.61% during the same period last year to 0.95% during April–June 2024. At a little over 25%, the company largely kept its net profit margins steady.
At the close of day's trade today, IREDA was trading at Rs 284.00, up by 0.11%.The stock has had an impressive year so far, generating a YTD (yield-to-date) of about 171%. However, the last quarter saw IREDA's operating margins shrink slightly on a YoY basis, from 38.42% as of June, 23 to 31.47% as of June 2024.
The company's EPS (earning per share) also inched up from 1.29 in June 2023 to 1.43 as of June 30th, 2024. Recently, the company raised Rs 2,500 crore via private placement in June 2024, for general corporate purposes and funding renewable energy projects.