IREDA Q4 PAT increased 33% year over year due to increased income.

New Delhi: Indian Renewable Energy Development Agency (IREDA) Ltd’s net profit for the quarter ended March rose nearly three-fold to ₹337 million compared to the same period last year, driven by higher interest income. Total operating income, including interest income, rose about 34% to ₹1,391 crore in the reported quarter.

The non-banking financial company’s finance costs rose along with its revenue to ₹847 crore. Loan disbursement for the quarter was ₹12,869.35 crore, up about 14% year-on-year.

The company’s net non-performing assets (NPA) shrank from 1.66% in the same period last year to 0.99% as of March 31. As of March 31, the company’s net interest margin was 2.85%, compared to 2.82% a year ago.

At year-end, the loan balance stood at ₹59,698 crore, up 27% year-on-year.