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Ireda share price slips 6% as Q1 profit plunges 36% YoY; details here
At 11:05 AM, Ireda share price was trading 5.07 per cent lower at ₹161.05. In comparison, BSE Sensex was trading 0.78 per cent lower at 82,539.85 levels.
Why did Ireda share price drop?
Ireda shares declined today following a disappointing financial performance in the June quarter (Q1FY26).
Ireda reported a 35.6 per cent year-on-year (Y-o-Y) drop in consolidated net profit, which fell to ₹246.88 crore in Q1FY26 from ₹383.70 crore in the same quarter last year (Q1FY25).
Sequentially, net profit plunged over 50 per cent from ₹501.79 crore reported in the March quarter (Q4FY25), signalling a sharp slowdown in earnings momentum.
While revenue from operations rose 29 per cent Y-o-Y to ₹1,947.60 crore, and grew 2.3 per cent sequentially, rising costs weighed heavily on profits.
Financing costs surged to ₹1,218 crore, up from ₹975 crore in the year-ago period, impacting margins and investor sentiment.
About Ireda
The Indian Renewable Energy Development Agency (Ireda), established in 1987, is a public limited company under the administrative control of the Ministry of New and Renewable Energy (MNRE), Government of India.
As a dedicated financial institution, Ireda plays a crucial role in promoting, developing, and extending financial support to renewable energy and energy efficiency/conservation projects across the country. The organisation operates with the motto 'Energy for Ever' and has emerged as a key driver in India's clean energy transition.
Ireda holds the 'Navratna' status, granting it enhanced operational autonomy within the public sector. It is widely recognised as India's largest pure-play green financing Non-Banking Financial Company (NBFC), offering a wide range of services - from project conceptualisation and financing to post-commissioning support and assistance for equipment manufacturing and transmission.
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