IREDA earned a record net profit of Rs 865 crore in the last financial year.
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It said in a statement that IREDA has earned the highest ever net profit of Rs 865 crore in the financial year 2022-23. Its profit before tax stood at Rs 1,139 crore. According to the data, the net profit was 36 percent higher than the financial year 2021-22 while the profit before tax was 37 percent higher.
Public sector Indian Renewable Energy Development Agency (IREDA) has earned its highest ever net profit of Rs 865 crore in the last financial year. IREDA said on Tuesday that during this period its bad loans also came down to 1.66 per cent. It said in a statement that IREDA has earned the highest ever net profit of Rs 865 crore in the financial year 2022-23. Its profit before tax stood at Rs 1,139 crore. According to the data, the net profit was 36 percent higher than the financial year 2021-22 while the profit before tax was 37 percent higher.
The total non-performing assets (NPAs) or bad loans of IREDA came down from 3.12 per cent in FY 2021-22 to 1.66 per cent in FY 2022-23. This is a huge drop in percentage of 47 per cent on an annual basis. The Board of Directors of IREDA in its meeting held on Tuesday approved the financial results for the financial year 2022-23 after review. The Board of Directors appreciated the excellent performance and steady growth of the unit. The loan disbursed by IREDA increased by 39 per cent from Rs 33,931 crore in FY 2021-22 to Rs 47,076 crore in FY 2022-23.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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