Shares of IREDA skyrocketed 11% on 22 April after the company reported a strong quarterly report for January-March.

The company reported a 33% year-on-year increase in its net profit to Rs 337.38 crore during the quarter under the report from Rs 253.62 crore reported in the same quarter last year. The company also reported highest-ever net profit after tax of Rs 1,252.23 crore for the fiscal year 2023-24.

The net interest income during the quarter grew by 35.1% YoY to Rs 481.4 crore during Q4FY24 from Rs 356.4 crore reported in the same quarter of the previous fiscal year.

The loan book during the quarter grew by 26.81% YoY to Rs 59,698.11 crore from Rs 47,052.52 crore reported in the corresponding quarter of the previous fiscal year.

The company has also achieved all-time high annual loan sanctions of Rs 37,353.68 crore, marking a 14.63% YoY growth from Rs 32,586.60 crore during FY24. The disbursements of Rs 25,089.04 crore were achieved during the financial year 2024, a 15.94% YoY increase from Rs 21,639.21 crore in FY23. This marks the highest annual loan disbursement and sanction in the company’s history.

As of 31 March 2024, the company’s net worth has reached a whopping Rs 8,559.43 crore, highlighting a 44.22% YoY growth from its net worth of Rs 5,935.17 crore on 31 March 2023.

At 3:30 pm, the share of IREDA closed 6.38% higher at Rs 170.95 on NSE.