Indian Renewable Energy Development Agency (IREDA) reported a 37.1% year-on-year increase in net profit to ₹339 crore for the first quarter of fiscal year 2027, according to livemint.com. Revenue for the quarter rose 15.5% year-on-year to ₹2,249 crore, while asset quality remained stable with gross non-performing assets (NPAs) at 3.76% as of June 30, 2026.
The sequential performance showed a 31.3% decline in net profit compared to the previous quarter, driven by higher finance costs and increased provisions that offset revenue gains. Despite these challenges, IREDA maintained stable asset quality, with gross NPAs slightly rising from 3.49% at the end of March 2026 but improving compared to 4.13% a year earlier, livemint.com reported.
IREDA’s results reflect the ongoing financial pressures in the renewable energy financing sector, where rising costs and provisions impact profitability. The agency’s ability to sustain revenue growth and stable asset quality amid these headwinds is notable. This performance comes amid a broader push in India to expand renewable energy capacity, with IREDA playing a key role in funding projects across the country.
Gross NPAs stood at 3.76% as of June 30, 2026, marking a slight increase from the previous quarter but an improvement from the prior year, according to livemint.com. The next quarterly results will provide further insight into IREDA’s financial trajectory amid evolving market conditions.