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IREDA Q1 profit rises 37% YoY despite higher funding costs
Gross NPAs were 3.76% as of June 30, 2026, while net NPA improved to 1.23% from 2.06% a year earlier.
LiveMint Markets reported that India Renewable Energy Development Agency (IREDA) posted net profit of ₹339 crore for the June 2026 quarter, up 37.1% year on year from ₹247 crore. Despite the YoY gain, profitability fell 31.3% sequentially from ₹493 crore in the prior March quarter.
The report said revenue from operations rose to ₹2,249 crore, up 15.5% YoY from ₹1,948 crore. Revenue inched up 0.7% quarter on quarter, helped by interest income rising to ₹2,198 crore from ₹1,909 crore a year earlier.
According to LiveMint Markets, higher finance costs and provisions weighed on results. Total expenses increased to ₹1,837 crore from ₹1,655 crore in the year-ago quarter, driven by finance costs of ₹1,341 crore, and impairment on financial instruments climbed to ₹418 crore.
On asset quality, the outlet said gross NPAs stood at 3.76% as of June 30, 2026, versus 4.13% a year earlier, though they edged up from 3.49% at end of March 2026. Net NPA improved to 1.23% from 2.06% year on year, the outlet attributed to recoveries and a stable credit profile.