Original source (on modern site) | Article images: [1]
April 22, 2024 / 09:35 AM IST
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} Shares of IREDA gained 8 percent at the open on the National Stock Exchange on April 22 morning after the company reported a 33 percent YoY increase in net profit for the March quarter of FY24. At 9:20 am, the stock was trading at Rs 174.35. The Indian Renewable Energy Development Authority (IREDA) said its Q4 profit jumped 33 percent YoY to Rs 337 crore, while the net interest income grew 35 percent to Rs 481.4 crore. Also read: IREDA Q4 results: Net profit rises 33% to Rs 337 cr In March, the state-owned company's board approved a proposal of Rs 24,200 crore borrowing for 2024-25, which includes "fundraising through bonds, perpetual debt instruments (PDI), term loans, commercial papers, and external commercial borrowings (ECB)," the company said in a filing on April 19. IREDA, which listed in November, has gained 168 percent, so far . A "Mini Ratna", IREDA is government of India enterprise under the ministry of new and renewable energy (MNRE) and is "engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation," according to the company website. Follow our market blog for live updates Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
IREDA Q4 result: Net interest income for the reporting period increased 35.1 percent to Rs 481.4 crore
The stock has gained 168 percent since listing.
![[1]](image.php?loc=IN&i=https://images.moneycontrol.com/static-mcnews/2021/04/pjimage-43.jpg){kind=link}