State-owned Indian Renewable Energy Development Agency (IREDA) on Tuesday posted an all-time high net profit or profit after tax at Rs 865 crore in 2022-23 fiscal year on lower bad loans at 1.66 per cent.
IREDA, a renewable energy funding company, has reported an all-time high annual Profit After Tax (PAT) of Rs 865 crore and Profit Before Tax (PBT) of Rs 1,139 crore in the financial year 2022-23, a company statement said.
The figures represent a significant growth of 36 per cent and 37 per cent, respectively, over the preceding financial year 2021-22.
IREDA’s Net Non-Performing Assets (NPAs) or bad loans have reduced to 1.66 per cent in FY23 from 3.12 per cent in FY22, a significant reduction of 47 per cent (in percentage terms) on year on year basis.
The Board of Directors of IREDA approved the audited financial results for the financial year 2022-23 in a meeting held on Tuesday while lauding the company’s outstanding performance and continued growth.
The…