IREDA Reports Stellar Q3: Loan Sanctions Surge 129% to ₹31,087 Crore, Disbursements Grow 41% to ₹17,236 Crore
Indian Renewable Energy Development Agency Ltd. (IREDA) has reported stellar growth for the December 31, 2024 quarter. As per provisional figures, IREDA sanctioned loans worth ₹31,087 crore in third quarter, marking an extraordinary 129% year-on-year (Y-o-Y) growth compared to ₹13,558 crore in the corresponding period last year.

Source: City Air News
Bengaluru, January 2, 2025: Indian Renewable Energy Development Agency Ltd. (IREDA) has reported stellar growth for the December 31, 2024 quarter. As per provisional figures, IREDA sanctioned loans worth ₹31,087 crore in third quarter, marking an extraordinary 129% year-on-year (Y-o-Y) growth compared to ₹13,558 crore in the corresponding period last year.
Loan disbursements also witnessed significant growth, increasing by 41% Y-o-Y to ₹17,236 crore from ₹12,220 crore in the previous year. The outstanding loan book surged by 36%, reaching ₹69,000 crore as of December 31, 2024, compared to ₹50,580 crore last year.
Also Read: Mahindra’s Farm Equipment Sector Sells 22019 Tractor Units in India during December 2024
IREDA has also been recognized as one of the Top 5 Wealth Creators in India for the period November 2023 to November 2024, securing the prestigious 2nd position by the leading business daily. It is the only public sector enterprise on this esteemed list, reflecting its commitment to wealth creation and excellence in the renewable energy sector.
Pradip Kumar Das, Chairman and Managing Director, IREDA, said, “IREDA’s outstanding performance reflects our unwavering commitment to driving India’s renewable energy transition. The 129% growth in loan sanctions underscores the increasing confidence of stakeholders in our capabilities and our pivotal role in supporting green energy projects. The recognition as one of a top wealth creator, especially as the sole PSU on the list, reaffirms our unwavering focus on innovation, sustainability, and good governance. We remain committed to powering a greener and self-reliant India."
You may also like

Why the U.S. Bond Market is Gaining Global Attention in 2025
Summary
Read Full
open_in_newThe U.S. bond market is drawing significant attention from investors and analysts worldwide in 2025. With higher yields, economic uncertainties, and the Federal Reserve’s cautious stance on interest rates, bonds are being seen as a stable and strategic investment option. Here's why global interest in U.S. Treasuries is on the rise.

Nvidia's Strategic Challenge: AI Chip Leader Faces Setback Amid U.S.-China Trade Pressures
Summary
Read Full
open_in_newNvidia, a global leader in AI chip technology, is grappling with new U.S. export restrictions that affect its custom-designed H20 chip for China. With the revised rules halting shipments without a special license, Nvidia could see a $5.5 billion hit to revenue. This development highlights the growing geopolitical tensions surrounding advanced technology and their impact on semiconductor firms.

Netflix Surpasses Expectations with Strong Q1 2025 Earnings and Confident Revenue Forecast
Summary
Read Full
open_in_newNetflix delivered a powerful financial performance in the first quarter of 2025, surpassing market expectations with a 13% revenue increase and a significant boost in net income. Backed by strong subscriber activity, advertising revenue, and recent price adjustments, the streaming giant remains optimistic about its future, aiming to double its revenue by 2030 and significantly expand its ad business.

California Attorney General Refuses to Back Elon Musk’s Legal Battle Against OpenAI
Summary
Read Full
open_in_newCalifornia's Attorney General has declined to support Elon Musk's lawsuit challenging OpenAI’s shift toward a for-profit structure. Musk claims this move violates the company's original nonprofit mission, while OpenAI insists it's necessary for securing future investment. The legal standoff continues without state backing.

Trent Shares Surge 6% Amid Sensex and Nifty Slump – Here’s Why Investors Are Bullish
Summary
Read Full
open_in_newDespite a sharp decline in the Indian stock market, with the Sensex and Nifty witnessing significant drops, Trent Ltd. shares soared by 6%, making it the top performer in the Nifty 50 index. This surge comes amid heightened market volatility and investor concerns over global economic uncertainties. Trent’s impressive rally highlights strong investor confidence in its retail expansion and financial stability.

Summary
Read Full
open_in_newOpenAI has successfully raised $40 billion in a landmark funding round, pushing its valuation to an impressive $300 billion. With investments from SoftBank, Microsoft, and other major players, this funding aims to accelerate AI research, expand computing infrastructure, and enhance user tools for ChatGPT’s growing audience. The investment solidifies OpenAI’s dominance in the artificial intelligence industry and fuels its ambitions to develop next-generation AI systems.

President Trump Threatens Increased Tariffs on Canada and EU Amid Trade Tensions
Summary
Read Full
open_in_newPresident Donald Trump has announced potential escalations in tariffs on Canada and the European Union (EU) if they engage in actions perceived to harm the U.S. economy. This follows the administration's recent imposition of a 25% tariff on imported vehicles, effective April 3, 2025, aimed at protecting domestic auto manufacturing. The move has elicited strong reactions from international leaders and raised concerns about a deepening global trade conflict.
Post a comment
Comments
Most Popular









