IREDA Q3 net profit jumps 38% to ₹585 crore, NII surges 35% at ₹898 crore

State-owned Indian Renewable Energy Development Agency Ltd (IREDA) on Friday (January 9) reported a 37.5% year-on-year increase in net profit for the quarter ended December 31, 2025 (Q3 FY26), rising to ₹584.9 crore from ₹425.4 crore in the same period last year.

Net interest income (NII) grew 34.8% to ₹897.5 crore, compared with ₹665.8 crore in Q3 FY25.

The company has already disclosed some of its key business metrics in an update shared on January 1 this year. As per the latest update, IREDA's loan book grew by 27.6% from last year to ₹87,975 crore, which is marginally lower than the 31% at which the loan book grew in the first half of this fiscal.

IREDA's disbursements grew by 44.5% during the first nine-months of the year to ₹24,903 crore, while sanctions grew by 29%. Both these metrics grew by 54% and 86% in the first half, respectively.

For the quarter, IREDA's disbursements declined by 5.5%, while sanctions nearly halved from the same period last year.

All eyes will be on IREDA's core income growth during the quarter, which had increased by nearly 50% during the September period on a year-on-year basis.

After the Gensol issue, IREDA's asset quality has taken the spotlight during its quarterly results. IREDA's Gross NPA had improved slightly to 3.97% in the September quarter, from 4.13% in June, while Net NPAs had improved to 1.97% in September from 2.06% in June.

The street will also be awaiting clarity on the potential Qualified Institutional Placement (QIP) that the company aims to carry out and raise up to ₹3,000 crore through this process. CNBC-TV18 had reported about this exclusively on November 18.

Shares of IREDA ended 3.5% lower on Thursday at ₹140.95. The stock is now down over 35% in the last 12 months and 55% from its record high level of ₹310.