Shares of the Indian Renewable Vitality Improvement Company Ltd. surged over 5% on the again of a sturdy Q3 replace, with the state-owned firm reporting development throughout key monetary metrics.
For the December quarter, IREDA registered a 41% year-on-year development in mortgage disbursements, reaching a complete of Rs 17,236 crore, up from Rs 12,220 crore in the identical interval final yr.
The corporate additionally posted a 129% YoY improve in mortgage sanctions, amounting to Rs 31,087 crore in Q3, in comparison with Rs 13,558 crore within the corresponding interval of 2023.
Because of this surge in exercise, IREDA’s excellent mortgage ebook reached Rs 69,000 crore as of December 31, 2024, marking a 36% rise from the Rs 50,580 crore recorded a yr in the past.
The optimistic replace has led to investor optimism, propelling IREDA’s inventory value increased, and additional solidifying its repute as a key participant in India’s renewable vitality financing panorama.