IREDA reports 5.56% decline in net profit

Indian Renewable Energy Development Agency (IREDA) has reported a 5.56 per cent decline in net profit at Rs 151.49 crore during the six months period that ended on March 31.

IREDA in a BSE filing said that the company had a net profit of Rs 160.42 crore in the same period a year ago.

The total income of the company declined to Rs 568.01 crore from Rs 583.35 crore in the year-ago period.  IREDA added that it has paid an interim dividend of Rs 150 crore to the government on March 31.

IREDA is a Mini Ratna (Category – I) Government of India Enterprise under the administrative control of MNRE. IREDA is a Public Limited Government Company established as a Non-Banking Financial Institution in 1987 engaged in promoting, developing and extending financial assistance for setting up projects relating to new and renewable sources of energy and energy efficiency/conservation.