## IREDA Reports 33% Rise in Net Profit for Q4 FY24
State-owned Indian Renewable Energy Development Agency Limited (IREDA) reported a 33% increase in its net profit for the quarter ended March 2024, reaching Rs 337.37 crore. This growth was driven by higher income, which surged to Rs 1,391.63 crore compared to Rs 1,036.31 crore in the same period of the previous year.
The company's expenses also increased during the quarter, reaching Rs 911.96 crore compared to Rs 747.93 crore in the year-ago period. However, the increase in income outpaced the rise in expenses, leading to the significant profit growth.
IREDA, a non-banking financial institution under the Ministry of New and Renewable Energy, promotes and develops renewable energy projects and provides financial assistance for energy efficiency and conservation initiatives.