IREDA Q2 profit edges up to Rs 554 crore; lending rises 31%

State-owned Indian Renewable Energy Development Agency (IREDA) reported standalone net profit of Rs 554 crore for July–September FY27, a marginal increase from Rs 549 crore a year earlier. Economic Times Markets reported the figures, citing the company's statement issued on Monday, October 19.

Revenue from operations increased 14% to Rs 2,345 crore, against Rs 2,057 crore in the corresponding quarter of the previous financial year. The earnings figures show that profit growth remained modest despite the stronger increase in revenue.

Disbursements and loan book expand

Loan disbursements rose 31% to Rs 10,579 crore during the quarter, compared with Rs 8,062 crore a year earlier. The outstanding loan book grew 15% to Rs 97,411 crore from Rs 84,477 crore in Q2 FY26.

The two measures capture different aspects of lending: disbursements represent funds released during the quarter, while the loan book measures outstanding lending. IREDA also reported net worth of Rs 14,337 crore, up 11% from Rs 12,920 crore a year earlier.

Company reports improved asset quality

Chairman and Managing Director Bijay Kumar Mohanty said the net non-performing asset ratio declined to 1.08% from 1.97%. He attributed the improvement to the company's risk-management and monitoring practices, and described the expansion in lending as a sign of sustained demand for renewable energy finance across India.

IREDA operates under the Ministry of New & Renewable Energy as a state-owned non-banking financial company focused on financing renewable energy projects in India.