Indian Renewable Energy Development Agency Reports Strong Financial Performance in Q2 FY25

Indian Renewable Energy Development Agency, a largecap finance/NBFC company, has recently announced its financial results for the quarter ending September 2024. The stock has been given a ‘Hold’ call by MarketsMOJO.

According to the financials, Indian Renewable has shown a positive performance in the quarter, with a score of 17, which is an improvement from the previous score of 12 in the last 3 months.

One of the key factors contributing to this positive performance is the company’s net sales, which have been consistently growing each quarter in the last five quarters. In the September 2024 quarter, the net sales were at its highest at Rs 1,510.27 crore, showing a very positive trend in the near term. Additionally, the net sales have grown at a rate of 21.7% over the average net sales of the previous four quarters, which were at Rs 1,240.98 crore.

The operating profit (PBDIT) for the quarter was also at its highest in the last five quarters, at Rs 1,458.86 crore. This indicates a positive trend in the near term for the company’s operating profit.

Furthermore, the profit after tax (PAT) for the quarter was also at its highest in the last five quarters, at Rs 383.69 crore. This shows a positive trend in the near term for the company’s profitability. The PAT has also grown at a rate of 22.6% over the average PAT of the previous four quarters, which were at Rs 313.06 crore.

The earnings per share (EPS) for the quarter were also at its highest in the last five quarters, at Rs 1.43. This indicates an increasing profitability for the company, creating higher earnings for its shareholders.

Overall, Indian Renewable Energy Development Agency has shown a positive financial performance in the September 2024 quarter, with a strong growth in net sales, operating profit, and profit after tax. This is a promising sign for the company and its shareholders.