IREDA profit increased by 83% 

Government-backed Indian Renewable Energy Development Agency (IREDA) has registered a historic all-time high profit of Rs 634 crore for the fiscal year 2021-22, marking a growth of 82.88 percent as compared to the previous year's. IREDA, in a statement, told that the Profit Before Tax (PBT) in 2021-22 was Rs 834 crore, 46.41 percent more than from 2020-21 In a meeting conducted on Saturday, the IREDA board approved the financial results for 2021-22 while appreciating the phenomenal performance of IREDA under challenging conditions.

The loan book of IREDA, an NBFC under Ministry of New and Renewable Energy increased from Rs 27,854 crore as of March 31, 2021, to Rs 33,931 crore in March-end this year. This indicates a growth of 21.82 percent in this period. IREDA clocked the highest-ever loan sanction of Rs 23,921 crore, witnessing a growth of 117.44 percent from the previous year's. Other than this, the loan disbursement of Rs 16,071 crore is the highest in the history of state-backed IREDA and a record increase of 82 percent from the previous year. The net worth of IREDA as of March 31, 2022, reached Rs 5,268 crore as against Rs 2,995 crore by the same period a year ago.