IREDA registers record profit in FY 20-21 amid COVID, PBT jumps by 136 pc

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Representative Image
Representative Image

New Delhi [India], May 30 (ANI): The Ministry of New and Renewable Energy on Sunday informed that Public Sector Indian Renewable Energy Development Agency (IREDA) has reported an all-time high annual Profit Before Tax (PBT) of Rs 570 crore in the financial year 2020-21 that was severely affected by COVID-19.

The annual financial highlights for financial year (FY) 2020-21 as against FY 2019-20 includes Profit Before Tax- Rs 570 crores as against Rs 241 crores, which went up by 136 per cent, it is recorded as an all-time high, profit after tax (PAT)- Rs 346 crores as against Rs 215 crores, which went up by 61 per cent, the Ministry said in a statement.

The PBT of the company was Rs 241 crores during FY 2019-20. The company has posted PAT of Rs 346 crores as against Rs 215 crores in the last financial year, registering a massive growth of 61 per cent.

The Board of Directors of IREDA approved the Audited Financial Results for Financial Year 2020-21 in a meeting held today while lauding the company's all-around improvement under challenging conditions.

The Loan Book of IREDA, an NBFC, has grown from Rs 23,548 as of March 31 2020 to Rs. 27,854 crores as of 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 of March 31 2021 has reached Rs. 2,995 crores as against Rs. 2,521 crores on March 31, 2020.

The annual financial highlights also include loan disbursement of Rs 8,827 crores as against Rs 8,785 crores, which is the second-highest ever amount. (ANI)