IREDA Results Analysis-Q1FY26

Operating Revenue for Q1FY26 is Rs. 1,909 Crs., 28.7% growth YoY, Total Income is Rs. 1,960 Crs., 29.7% growth YoY, PBT Rs. 305 Crs., 35.9% Negative growth YoY, PAT Rs. 247 Crs., 35.5% Negative growth YoY. Operating Profit Margin is 15.02% which is down by 1645 basis Points YoY, Net Profit Margin is 12.59% which is down by 1281 basis Points YoY (Due to Increase in the provision for Impairment on Financial Instruments). Gross NPA 4.13% vs 2.19% in Q1FY25, Net NPA 2.06% vs 0.95% in Q1FY25. On QoQ basis Operating Revenue has achieved 2.6% growth, Total Income is grown by 2.4%, However, PBT shown a negative growth of 51.6%, PAT shown a negative growth of 50.8%. Top line is improving but bottom line is not sustaining due to increase in NPAs.