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• Indian Renewable Energy Development Agency (IREDA) reported a net profit of INR 492.63 crore for the March quarter, down 1.77% from INR 501.55 crore recorded a year earlier.
• The decline in quarterly profit came despite higher income growth, as expenses increased significantly during the reporting period.
• For FY26, the state-owned renewable energy financier posted its highest-ever annual profit of INR 1,874 crore, compared with INR 1,698 crore in FY25.
• Loan sanctions, disbursements and the overall loan book registered year-on-year growth, reflecting continued expansion of renewable energy financing activities.
• The board has recommended a final dividend of INR 0.75 per equity share, taking the total dividend for FY26 to INR 1.35 per share, subject to shareholder approval.
The Indian Renewable Energy Development Agency (IREDA), the state-owned non-banking financial company under the Ministry of New and Renewable Energy, reported a net profit of INR 492.63 crore for the quarter ended March 31, registering a marginal decline of 1.77% compared with INR 501.55 crore in the corresponding period a year ago. The fall in quarterly earnings was primarily attributed to higher expenses during the quarter, even as the company recorded growth in income.
According to a regulatory filing made in the past week, IREDA’s total income for the January-March quarter increased to INR 2,181.28 crore from INR 1,915 crore reported in the fourth quarter of the previous financial year. However, total expenses rose to INR 1,562.14 crore from INR 1,285.91 crore during the comparable period, impacting profitability.
Despite the moderation in fourth-quarter earnings, the company delivered its strongest annual financial performance to date during FY26. Net profit for the full financial year increased to INR 1,874 crore, compared with INR 1,698 crore recorded in FY25. Annual income also rose substantially to INR 8,338.89 crore from INR 6,755.69 crore in the previous year.
In a separate statement, IREDA described FY26 as a record year for profitability, citing the highest annual profit achieved since its inception. The company’s board of directors recommended a final dividend of INR 0.75 per equity share for FY26, subject to approval by shareholders at the forthcoming Annual General Meeting.
Including the interim dividend of INR 0.60 per equity share already declared during the year, the total dividend payout for FY26 stands at INR 1.35 per equity share.
Operational performance remained strong during the year, supported by growth across key lending metrics. Loan sanctions rose 9% year-on-year to INR 51,883 crore, compared with INR 47,453 crore in FY25. Loan disbursements increased 16% to INR 34,946 crore from INR 30,169 crore in the preceding financial year.
The company also reported a significant expansion in its loan portfolio. The outstanding loan book grew 22% year-on-year to INR 93,069 crore, compared with INR 76,282 crore at the end of FY25.
Commenting on the performance, Chairman and Managing Director Pradip Kumar Das stated that FY26 marked another phase in the organisation’s growth trajectory. He said that crossing the INR 93,000-crore loan book milestone while delivering the highest annual profit reflected the company’s strategy, institutional strength and continued focus on supporting India’s renewable energy sector. He added that IREDA would continue to pursue responsible growth as investment activity in the country’s green energy transition gathers pace.
IREDA functions as a specialised state-owned lender focused on financing renewable energy and energy transition projects across India, supporting the government's broader clean energy and sustainability objectives.
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