Shares of Indian Renewable Energy Development Agency Ltd (IREDA) gained momentum on Monday, January 12, after the state-owned renewable energy financier reported a robust set of numbers for the third quarter of the financial year 2025-26 (Q3FY26). The company delivered strong growth across key financial parameters, including profitability, revenue, loan book expansion, and net worth, reinforcing investor confidence in its long-term growth story.
IREDA posted a net profit of ₹584.91 crore for the October–December quarter, marking a sharp 38% year-on-year (YoY) increase compared to ₹425.38 crore recorded in the corresponding quarter of the previous fiscal. The strong profit growth reflects higher disbursements, steady expansion of the loan portfolio, and improved operational efficiency during the quarter.
Revenue from operations also registered healthy growth, rising 25% YoY to ₹2,130 crore in Q3FY26 from ₹1,698 crore in the same period last year. The rise in revenue was supported by an expanding asset base and increased lending activity across renewable energy segments such as solar, wind, hydro, and emerging green technologies.
On the asset quality front, IREDA reported a sequential improvement. Gross non-performing assets (GNPA) declined to 3.75% in Q3FY26 from 4.13% in the previous quarter, while net non-performing assets (NNPA) improved to 1.68% from 1.97% quarter-on-quarter. However, on a YoY basis, asset quality showed some moderation, as GNPA stood at 2.68% and NNPA at 1.50% in Q3FY25, indicating relatively higher stress compared to last year.
The company’s loan book continued to expand at a strong pace. Total outstanding loans grew 28% YoY to ₹87,975 crore in Q3FY26, up from ₹68,960 crore in the year-ago period. Disbursements during the quarter rose 32% annually to ₹9,860 crore, compared with ₹7,449 crore in the October–December quarter of FY25, highlighting sustained demand for financing in the renewable energy sector.
IREDA’s balance sheet strength also improved significantly. The company’s net worth increased 38% YoY to ₹13,537 crore as of Q3FY26, compared to ₹9,842 crore a year earlier. The rise in net worth provides greater financial flexibility and enhances the company’s ability to support large-scale renewable energy projects across the country.
Commenting on the quarterly performance, Pradip Kumar Das, Chairman and Managing Director of IREDA, said the results underline the company’s commitment to supporting India’s clean energy ambitions. He noted that the growth in profitability, disbursements, and net worth reflects strong stakeholder confidence and IREDA’s focused approach toward accelerating the renewable energy transition.
The stock market responded positively to the earnings announcement. Shares of IREDA climbed as much as 4.16% during intraday trade to hit a high of ₹142.30 on the National Stock Exchange. At around 10:03 am, the stock was trading 1.96% higher at ₹136.29 per share.
Despite Monday’s rally, the stock has seen some volatility in recent sessions. It has declined over 3% in the past week but managed to gain more than 2% over the past month. The stock touched a year’s low of ₹129.11 on December 9, 2025, while its 52-week low stood at ₹227.30 on January 9, 2025.
As of January 12, 2026, IREDA’s market capitalization stood at ₹39,180.35 crore. With steady growth in lending, improving balance sheet metrics, and strong demand for renewable energy financing, the company remains a key player in India’s green energy ecosystem, drawing continued attention from investors and market participants alike.
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