IREDA's Q4 financial results show strong growth and positive outlook.
Indian Renewable Energy Development Agency (IREDA), a largecap finance/NBFC company, recently announced its financial results for the quarter ending March 2024. The company's net sales for the quarter were at an all-time high of Rs 1,391.25 crore, showing a consistent growth trend in the last five quarters. This is a positive sign for the company's near-term sales outlook.In addition, IREDA's operating profit (PBDIT) for the quarter was also at its highest in the last five quarters, at Rs 1,335.63 crore. This indicates a positive trend in the company's near-term operating profit.
The company's profit before tax (PBT) less other income for the quarter was at its highest in the last five quarters, at Rs 479.28 crore. This is a 28.4% increase over the average PBT of the previous four quarters, showing a positive trend in the company's near-term PBT.
Furthermore, IREDA's profit after tax (PAT) for the quarter was also at its highest in the last five quarters, at Rs 337.38 crore. This is another positive sign for the company's near-term outlook.
MarketsMOJO has given a 'Sell' call for IREDA's stock, but the company's financial results for the quarter ending March 2024 show a strong performance. With consistent growth in net sales, operating profit, and PBT, and a positive trend in PAT, IREDA seems to be on a steady path towards success.
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