IREDA Shares Fall 6% After Rise in Bad Loans Hits Q1 Profit

IREDA shares dropped 6% to ₹160 on July 11 after its bad loans increased sharply in the June quarter, hurting investor confidence. Net profit fell 36% to ₹247 crore, mainly due to rising non-performing assets (NPAs). Gross NPAs rose to 4.13% from 2.45% in March, and net NPAs to 2.05% from 1.35%. The decline is linked to IREDA’s ₹470 crore exposure to Gensol Engineering, which is now facing insolvency proceedings.