There has been a stormy rise in the shares of PSU Navratna IREDA amid heavy selling on Monday. A rise of 4 percent has been recorded in the company’s shares. The reason behind this surge is the quarterly results. Let us tell you, the net profit of public sector company IREDA on standalone basis increased by 37 percent to Rs 585 crore in the December quarter of the current financial year. The profit has increased mainly due to increase in the company’s income. In the information given to the stock market, the government company said that it had made a net profit of Rs 425 crore in the October-December quarter of the last financial year. IREDA’s shares had opened at the level of Rs 139.90 in BSE on Monday. The price of the company’s shares rose by 4 percent during the day and reached an intra-day high of Rs 142.30.
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What has been the company’s revenue?
The company’s operating revenue grew 38 percent to Rs 2,140 crore from Rs 1,699 crore in the same quarter a year ago. Pradeep Kumar Das, Chairman and Managing Director (CMD), IREDA, said, “IREDA’s strong financial performance this quarter reflects our commitment to accelerate India’s renewable energy transition. The growth in loan disbursements, net worth and profits reflects the confidence of our stakeholders.” Loan disbursements in the third quarter increased by 32 per cent to Rs 9,860 crore from Rs 7,449 crore in the year-ago quarter. Was. During this period, the net worth increased to Rs 13,537 crore which was Rs 9,842 crore in the December quarter a year ago.
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The stock is struggling in the stock market
Even though IREDA shares have seen a rise in the stock market today. Even after this, the company’s share prices have declined by 30.69 percent in one year. IREDA 52 week high is Rs 222.75 and 52 week low level is Rs 129.10. The market cap of the company is Rs 39 thousand crores.
(This is not investment advice. The stock market is subject to risks. Consult experts before making any investment.)