/images/ppid_59c68470-image-176791756628186361.webp)
/images/ppid_a911dc6a-image-176790603624175017.webp)
What is the story about?
Shares of Indian Renewable Energy Development Agency (IREDA) Ltd. will be in focus on Friday, January 9, ahead of its third quarter results, which will be reported during the day.
The company has already disclosed some of its key business metrics in an update shared on January 1 this year.
As per the latest update, IREDA's loan book grew by 27.6% from last year to ₹87,975 crore, which is marginally lower than the 31% at which the loan book grew in the first half of this fiscal.
IREDA's disbursements grew by 44.5% during the first nine-months of the year to ₹24,903 crore, while sanctions grew by 29%. Both these metrics grew by 54% and 86% in the first half respectively.
For the quarter, IREDA's disbursements declined by 5.5%, while sanctions nearly halved from the same period last year.
All eyes will be on IREDA's core income growth during the quarter, which had increased by nearly 50% during the September period on a year-on-year basis.
After the Gensol issue, IREDA's asset quality has taken the spotlight during its quarterly results. IREDA's Gross NPA had improved slightly to 3.97% in the September quarter, from 4.13% in June, while Net NPAs had improved to 1.97% in September from 2.06% in June.
The street will also be awaiting clarity on the potential Qualified Institutional Placement (QIP) that the company aims to carry out and raise up to ₹3,000 crore through this process. CNBC-TV18 had reported about this exclusively on November 18.
Shares of IREDA ended 3.5% lower on Thursday at ₹140.95. The stock is now down over 35% in the last 12 months and 55% from its record high level of ₹310.
The company has already disclosed some of its key business metrics in an update shared on January 1 this year.
As per the latest update, IREDA's loan book grew by 27.6% from last year to ₹87,975 crore, which is marginally lower than the 31% at which the loan book grew in the first half of this fiscal.
IREDA's disbursements grew by 44.5% during the first nine-months of the year to ₹24,903 crore, while sanctions grew by 29%. Both these metrics grew by 54% and 86% in the first half respectively.
For the quarter, IREDA's disbursements declined by 5.5%, while sanctions nearly halved from the same period last year.
All eyes will be on IREDA's core income growth during the quarter, which had increased by nearly 50% during the September period on a year-on-year basis.
After the Gensol issue, IREDA's asset quality has taken the spotlight during its quarterly results. IREDA's Gross NPA had improved slightly to 3.97% in the September quarter, from 4.13% in June, while Net NPAs had improved to 1.97% in September from 2.06% in June.
The street will also be awaiting clarity on the potential Qualified Institutional Placement (QIP) that the company aims to carry out and raise up to ₹3,000 crore through this process. CNBC-TV18 had reported about this exclusively on November 18.
Shares of IREDA ended 3.5% lower on Thursday at ₹140.95. The stock is now down over 35% in the last 12 months and 55% from its record high level of ₹310.
/images/ppid_59c68470-image-176791504330046975.webp)
/images/ppid_a911dc6a-image-176790952770074319.webp)
