IREDA Q2 PAT surges 41%, revenue rises 26%; shares up 3.5%

Indian Renewable Energy Development Agency (IREDA) recorded a 41% surge in profit-after-tax, to ₹549 crore from ₹388 crore on a year-on-year (YoY) basis in its Q2FY2026 results. Its Revenue from Operations stood at ₹2,057 crore, vs ₹1,630 crore last year, rising by 26%.

Its operating profit rose 54% YoY to ₹776 crore in the quarter under review from ₹503 crore in Q2FY25. IREDA's total expenses in Q2FY26 rose 16.3% YoY to ₹1,361.38 crore from ₹1,170.47 crore in Q2FY25. Gross NPA rose to ₹3,353 crore from ₹1,415 crore YoY, while net NPA increased to ₹1,627 crore from ₹666 crore YoY.

The company's net worth rose by 38%, from ₹9,336 crore in Q2 FY2025 to ₹12,920 crore in the passing quarter.

The loan book size also increased by 31%, ₹84,477 crore in the June-September quarter versus ₹64,564 crore in the same time last year.

Loan sanctions surged sharply by 145% to ₹21,408 crore from last year's ₹8,724 crore. Even loan disbursements clocked a 81% rise, at ₹8,062 crore.

Commenting on the Q2 performance, Shri Pradip Kumar Das, Chairman & Managing Director, IREDA, stated, “IREDA’s consistent growth across quarters underscores our strategic focus and execution excellence. Our expanding loan book and strong financials are a testament to the trust placed in us by stakeholders and highlight our role as a key enabler in India’s clean energy ecosystem.”

Reacting to the positive Q2 results, shares of Ireda jumped by 3.7%, recording an intraday high of ₹155.86, while currently trading at ₹155.34. The market capitalisation of the PSU is 43,660 crore. The stock is well below its 52-week high of ₹234.29 by 33.84%, but is 13% above its 52-week low of ₹137.01.