IREDA NET PROFIT GROWS TO Rs 554 CRORE IN SEPTEMBER QUARTER

State-owned company

has posted a marginal rise in its standalone net profit to Rs 554 crore for the September quarter this financial year, as compared to a net profit of Rs 549 crore in the September quarter of the preceding financial year. In the same quarter, the company's revenue from operations rose 14% to Rs 2,345 crore from Rs 2,057 crore a year ago. Loan disbursement increased 31% to Rs 10,579 crore against Rs 8,062 crore in the year ago quarter. Under the Ministry of New & Renewable Energy (MNRE), Indian Renewable Energy Development Agency Ltd (IREDA) functions as a state-owned non-banking financial company (NBFC), with a focus on financing renewable energy projects across India.