IREDA Shares Jump 5% On Strong Guidance, Likely Rs 4,500 Crore QIP In Q4FY25 – News18
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Shares of IREDA broke a two-day losing streak, rising more than 5% to Rs 212 per share on January 13
IREDA shares jump
Shares of IREDA broke a two-day losing streak, rising more than 5% to Rs 212 per share on January 13, following strong guidance from the management and an announcement of a target timeline for a Rs 4,500 crore qualified institutional placement (QIP) between January and March.
In an interview with CNBC-TV18, IREDA’s Chairman and Managing Director, Pradip Kumar Das, confirmed the QIP target for the current quarter but withheld further details. “Since we are planning the QIP soon, we must remain cautious to ensure we do not lose investor confidence,” Das said.
Last year, IREDA approved a plan to raise Rs 4,500 crore, with the government set to dilute up to 7% of its 75% stake through the QIP. The capital raised will strengthen IREDA’s financial position, enabling it to increase financing for renewable energy projects and support India’s clean energy transition.
In its latest quarterly report, IREDA posted a 27% year-on-year increase in net profit, reaching Rs 425 crore, while total revenue rose 36% YoY to Rs 1,698 crore. Net interest income grew by 39% YoY to Rs 622 crore. However, operating margins saw a sharp decline of 330 basis points, dropping to 30.4% in Q3FY25.
The state-owned NBFC also reported an improvement in asset quality, with gross non-performing assets (NPAs) falling to 2.68% in the December quarter, down from 2.90% in the same period last year.
Over the past three months, IREDA’s shares have declined by over 11%, compared to a 4% drop in the benchmark Nifty 50 index.
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