IREDA revenue jumps 29% but profits fall 36%

Indian Renewable Energy Development Agency reported revenue growth of 29% to INR 1,947 crores for Q1 FY26, with operating profit surging 49% to INR 677 crores. The loan book expanded 26% to INR 79,941 crores.

However, both profit before tax and profit after tax declined 36%, hit by higher impairment charges of INR 363 crores compared to negative INR 30 crores last year.

Gross NPAs doubled to 4.13% from 2.19%, while net NPAs rose to 2.06% from 0.95%. The company raised JPY 26 billion from SBI Tokyo and INR 2,006 crores through a qualified institutional placement.