IREDA aims to earn Rs 4,350 crore in the current financial year
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New Delhi: Public sector company IREDA has set a target of achieving an income of Rs 4,350 crore from operations during the current financial year. Indian Renewable Energy Development Agency Limited (IREDA) said in a statement on Monday that the operating income is expected to increase to Rs 5,220 crore in the next financial year 2024-25.
The company has signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy (MNRE) in this regard. The MoU outlines strategic goals as per the guidelines of the Department of Public Enterprises (DPE), which IREDA will strive to achieve during the financial years 2023-24 and 2024-25.
The Government of India has set an operating income target of Rs 4,350 crore for 2023-24 and Rs 5,220 crore for 2024-25, the statement said. IREDA had registered an operating income of Rs 3,482 crore in the last financial year.
IREDA Chairman and Managing Director (CMD) Pradeep Kumar Das said, “The company achieved an impressive 272 per cent year-on-year growth in loan disbursements in the first quarter of FY 2023-24 and a 30 per cent increase in net profit. The company has also achieved a significant reduction in non-performing assets (NPAs) and the figure came down to 1.61 per cent in the first quarter of 2023-24 from 2.92 per cent in the first quarter of the previous financial year.
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