Indian Renewable Energy Development Agency (IREDA) has reported annual Profit Before Tax (PBT) of 570 crore rupees in the FY 2020-21. Earlier in the last financial year as well the company had registered massive growth of 61% by posting Rs 346 crore Profit After Tax against Rs 346 crore as against Rs 215 crore despite Covid-19 pandemic.
IREDA falls under Ministry of New and Renewable Energy and its performance under challenging conditions has been lauded by all including its board of directors.
Even the the loan book of IREDA which is also a NBFC, has grown from Rs. 23,548 crore to Rs. 27,854 crore from 31st March 2020 to March 2021.
The financial highlights of IREDA for the FY 2020-21:
- Profit After Tax – Rs 346 crore as against Rs 215 crore (up by 61%) while loan disbursement reached to Rs 8827 crore as against Rs 8785 crore.
- The company’s net-worth reached to Rs 2995 crore against Rs 2521 crore which is up by 19%.
- Net NPA reduced to- 5.61% as against 7.18% which is the total reduction of 22%
According to Pradip Kumar Das, CMD, IREDA, the remarkable achievements of FY 2020-21 is the result of commitment and efforts of the dedicated team of employees of IREDA.