IREDA Q1 results: Navratna PSU's profits decline 35% YoY to ?246.68 crore. Check details

IREDA Q1 results: The Indian Renewable Energy Development Agency (IREDA) announced the results for the April to June quarter on Thursday, July 10. The state-owned company's net profits declined 35.1% per cent to ₹246.68 crore in the first quarter of FY26, compared to ₹383.7 crore in the same quarter of the previous year.

The Navaratna PSU's revenue from operations rose nearly 29 per cent to ₹1,947.29 crore for the quarter ended on June 30, 2025, compared to ₹1,510.27 crore in the same quarter the previous year.

The total expenses of IREDA for the first quarter of FY26 surged by 37 per cent to ₹1,654.9 crore compared to ₹1,034.96 crore in the same period a year ago.

Indian Renewable Energy Development Agency (IREDA) shares closed 2.26 per cent higher at ₹169.65 after Thursday's market session. The state-owned company announced the results after market closing hours on Thursday. IREDA share price opened at ₹167.25 per share on the BSE on Thursday.

IREDA quarterly results also remain in focus after Gensol Engineering's bankruptcy and ₹470 crore exposure that the PSU has to the company.

The company in the quarterly results announced today informed that the Gensol Engineering issue was examined by the Internal Investigation Committee, and a complaint was filed with the Economic Offence Wing (EOW) of Delhi Police for falsification of documents submitted by the borrower to rating agencies and misappropriation of funds based on the interim report of SEBI.

IREDA also approached the National Company Law Tribunal (NCLT) seeking recovery of nearly ₹729 crore from Gensol Engineering Limited and Gensol EV Lease Pvt Ltd. NCLT has approved IREDA's insolvency petition against Gensol Engineering.

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