IREDA's profit after tax rises by 83% to `634 crore

New Delhi: Indian Renewable Energy Development Agency (IREDA) reported historic all-time high annual Profit After Tax (PAT) of Rs 634 crore and Profit Before Tax (PBT) of Rs 834 crore in the FY 2021-22 in midst of second and third waves of Covid Pandemic during the year, registering a massive growth of 82.88 per cent and 46.41 per cent, respectively over FY 2020-21.

The Board of Directors of IREDA approved the Audited Financial Results for Financial Year 2021-22 in a meeting held today while lauding the company's outstanding performance under challenging conditions.

The Loan Book of IREDA, a NBFC under MNRE, Government of India, has grown from Rs 27,854 crore as on March 31, 2021 to Rs 33,931 crore as on March 31, 2022 (registering a growth of 21.82 per cent). The company registered highest-ever loan sanction of Rs 23,921 Crores (growth of 117.44 per cent to the previous year sanction of Rs 11,001 crore).

The loan disbursement of Rs 16,071 crore is the highest in the company's history and a record increase by 82 per cent from the previous year. The net-worth of the company as on March 31, March 2022 has reached Rs 5,268 crore as against Rs 2,995 crore ending March 31, March 2021 (increase by 75.89 per cent), which includes equity infusion of Rs 1,500 crore on March 28, March 2022 by Government of India.

On this occasion, Pradip Kumar Das, Chairman & Managing Director, IREDA conveyed his sincere gratitude to the PMO, MNRE, MoF among others for constantly guiding IREDA and extending its support at every juncture, especially for realising the awaited equity infusion. He conveyed his sincere gratitude to R K Singh, Union Minister of Power, New and Renewable Energy and Bhagawanth Khuba, Minister of State, New and Renewable Energy for their continuous guidance and facilitation. Das also placed on record the gratitude of the company for the abiding support received from Secretary, MNRE, Senior Officials of MNRE and Board of Directors of IREDA.