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Shares of IREDA broke a two-day shedding streak, rising greater than 5% to Rs 212 per share on January 13
IREDA shares bounce
Shares of IREDA broke a two-day shedding streak, rising greater than 5% to Rs 212 per share on January 13, following robust steering from the administration and an announcement of a goal timeline for a Rs 4,500 crore certified institutional placement (QIP) between January and March.
In an interview with CNBC-TV18, IREDA’s Chairman and Managing Director, Pradip Kumar Das, confirmed the QIP goal for the present quarter however withheld additional particulars. “Since we’re planning the QIP quickly, we should stay cautious to make sure we don’t lose investor confidence,” Das mentioned.
Last yr, IREDA accredited a plan to lift Rs 4,500 crore, with the federal government set to dilute as much as 7% of its 75% stake by the QIP. The capital raised will strengthen IREDA’s monetary place, enabling it to extend financing for renewable vitality tasks and assist India’s clear vitality transition.
In its newest quarterly report, IREDA posted a 27% year-on-year improve in internet revenue, reaching Rs 425 crore, whereas whole income rose 36% YoY to Rs 1,698 crore. Net curiosity revenue grew by 39% YoY to Rs 622 crore. However, working margins noticed a pointy decline of 330 foundation factors, dropping to 30.4% in Q3FY25.
The state-owned NBFC additionally reported an enchancment in asset high quality, with gross non-performing property (NPAs) falling to 2.68% within the December quarter, down from 2.90% in the identical interval final yr.
Over the previous three months, IREDA’s shares have declined by over 11%, in comparison with a 4% drop within the benchmark Nifty 50 index.
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