Home / Business and Economy / IREDA Q3 Results: Loan Book Grows, Disbursements Dip
IREDA Q3 Results: Loan Book Grows, Disbursements Dip
9 Jan
Summary
- IREDA's loan book surged 27.6% year-on-year to ₹87,975 crore.
- Disbursements declined 5.5% for the quarter, while sanctions nearly halved.
- Company seeks ₹3,000 crore via Qualified Institutional Placement.
Shares of Indian Renewable Energy Development Agency (IREDA) Ltd. are under scrutiny as the company prepares to announce its third-quarter financial results. In an update on January 1, IREDA reported a significant 27.6% year-on-year increase in its loan book, reaching ₹87,975 crore.
Despite the loan book growth, IREDA's disbursements fell by 5.5% in the third quarter compared to the same period last year, and sanctions saw a near halving. The company's asset quality, particularly its Gross Non-Performing Assets (NPA), improved slightly to 3.97% in the September quarter. Investors are keen to see the core income growth for the current quarter.
Furthermore, attention is focused on IREDA's plan to raise up to ₹3,000 crore through a Qualified Institutional Placement (QIP). The company's stock closed 3.5% lower on Thursday at ₹140.95, reflecting a broader market trend for the stock over the past year.
