Jan 10, 06:00 AM

IREDA Reports Q3 Net Profit of ₹425.4 Crore, NII Up 39%, Shares Dip 3% Amid NPA Concerns; DMart Profit at ₹785 Crore

The Indian Renewable Energy Development Agency (IREDA) reported a net profit of ₹425.4 crore for the third quarter of FY2024-25, reflecting a year-on-year increase of 26.8% from ₹335.5 crore. The agency's net interest income (NII) rose by 39% to ₹622.3 crore, compared to ₹448.1 crore in the previous year. Additionally, IREDA's total revenue from operations reached ₹1,698 crore. Despite these strong financial results, IREDA's shares experienced a decline of 3% following a reported 30% deterioration in gross non-performing assets (NPA) for the quarter. This decline in asset quality has raised concerns among investors, overshadowing the positive earnings report. In a separate development, Avenue Supermarts Ltd, known for its DMart retail chain, reported a 6.5% increase in standalone profit to ₹785 crore, with revenue rising 17.5% to ₹15,565 crore for the same quarter.

#IREDA #Avenue Supermarts Ltd #DMart

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