IREDA reported its earnings for the quarter ended September on Thursday evening

What Happened: The company’s net profit for the September quarter came in at ₹387.74 crore, up 36% from the ₹284.73 crore posted in the same quarter last year. Revenue from operation stood at ₹1,577 crore, a 36% jump from the ₹1,152 crore posted in the corresponding quarter of the previous year.

Net interest income — the difference between a lender's income from lending activities and interest paid to depositors —  stood at ₹546.9 crore, a 52% jump from the ₹359.8 crore reported in the corresponding quarter last year.

IREDA’s Gross Non-Performing Assets (NPA) remained unchanged at 2.19%. The Net NPA saw a slight increase, rising to 1.04% from 0.95% in the previous quarter. The renewable energy financier’s debt-equity ratio also remained relatively stable, standing at 5.85x, compared to 5.83x in the June quarter.

The company reported a whopping 303% increase in loan sanctions in the first half of the current financial year, sanctioning ₹17,860 crore worth of loans compared to ₹4,437 crore sanctioned during the same period last year.

In terms of loan disbursements, IREDA disbursed ₹9,787 crore in the first half of the fiscal year, a 56% increase from the ₹6,273 crore disbursed in the corresponding period last year.

Price Action: IREDA’s share price was up 1.11% to close at ₹233.69 on Thursday.

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