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New Delhi : Public Sector Indian Renewable Energy Development Agency (IREDA) under Ministry of New and Renewable Energy has reported an all-time high annual Profit Before Tax (PBT) of Rs 570 crore in financial year 2020-21 that was severely affected by Covid-19 Pandemic. The PBT of the company was Rs 241 crore during FY 2019-20. The company has posted Profit After Tax (PAT) of Rs 346 crore as against Rs 215 crore in the last financial year, registering a massive growth of 61%.
The Board of Directors of IREDA approved the Audited Financial Results for Financial Year 2020-21 at a meeting held on May 30, 2021, while lauding the company’s all-round improvement under challenging conditions.
The Loan Book of IREDA, an NBFC, has grown from Rs 23,548 as on March 31, 2020, to Rs. 27,854 crores as on March 31, 2021. The loan disbursement of Rs 8,827 crore is the second highest in the company’s history. The net-worth of the company as on March 31, 2021, has reached Rs 2,995 crore as against Rs 2,521 crore on March 31, 2020.
The annual financial highlights for the FY 2020-21 as against FY 2019-20 are as follows:
- Profit Before Tax- Rs 570 crore as against Rs 241 crore, up by 136% (All-time high)
- Profit After Tax- Rs 346 crore as against Rs 215 crore (up by 61%)
- Loan Disbursement- Rs 8,827 crore as against Rs 8785 crore, (2nd highest ever)
- Loan Book- Rs 27,854 crore as against Rs. 23,548 crore (Annual growth: 2nd highest ever)
- Net-worth- Rs 2,995 crore as against Rs 2,521 crore, (up by 19%)
- Net NPA reduction- 5.61% as against 7.18% (reduction by 22%)
On this occasion, Pradip Kumar Das, Chairman & Managing Director, IREDA, said that the remarkable achievements of FY 2020-21 would not have been possible without Govt. of India’s active support and guidance. He conveyed his sincere gratitude to R K Singh, Union Minister of Power, New and Renewable Energy, for his continuous guidance and facilitation, according to a PIB release.
Das also placed on record the gratitude of the company for the abiding support received from Secretary, MNRE, Board of Directors and Senior Officials of MNRE. The CMD lauded the dedicated team of employees of IREDA for their commitment and efforts that made the high level of results possible.