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Indian Renewable Energy Development Agency Limited (IREDA) has revealed its audited financial results for the fiscal year 2023-24. IREDA has achieved an annual profit after tax (PAT) of Rs 1252.23 crore which is an all time high. The results mark an impressive growth of 44.83 percent over the previous fiscal year. The company has successfully reduced its net non-performing assets (NPAs) to 0.99 percent in FY 2023-24 from 1.66 percent in FY 2022-23. It demonstrates a significant reduction of 40.52 percent year-on-year.IREDA's loan book has grown from Rs 47,052.52 crore as on March 31, 2023, to Rs 59,698.11 crore as on March 31, 2024, registering a growth of 26.81 percent. The company has achieved all-time high annual loan sanctions of Rs 37,353.68 crore and disbursements of Rs 25,089.04 crore in financial year 2023-24, registering an increase of 14.63 percent and 15.94 percent respectively, over previous financial year loan sanctions of Rs 32,586.60 crore and disbursements of Rs 21,639.21 crore. The net-worth of the company as on March 31, 2024, has reached Rs 8,559.43 crore as against Rs 5,935.17 crore, year ending March 31, 2023, increased by 44.22 percent. IREDA CMD Pradip Kumar Das said, “IREDA's steadfast commitment to accelerating the adoption of renewable energy solutions in India indicates a promising trajectory for investors and stakeholders. IREDA CMD attributed the company's growth to the unwavering trust of its stakeholders while extending gratitude to the Ministry of New & Renewable Energy and Board of Directors for their indispensable support and guidance. Read the full article