IREDA stages strong Q2 show—Profit surges 42%, stock price spikes

IREDA Q2 Results: Navratna PSU Indian Renewable Energy Development Agency (IREDA) reported a strong earnings performance for the July-September quarter of the current financial year (Q2FY26), with standalone profit rising nearly 42 per cent year-on-year (YoY).

The NBFC posted a standalone profit of Rs 549 crore in Q2FY26, up from Rs 387.75 crore in the same quarter last year, marking a 41.6 per cent YoY increase. Revenue from operations grew 26.2 per cent YoY to Rs 2,056.88 crore, compared with Rs 1,629.55 crore in Q2FY25.

Operating profit jumped 54 per cent YoY to Rs 776 crore from Rs 503 crore, while total expenses rose 16.3 per cent YoY to Rs 1,361.38 crore.

Add Zee Business as a Preferred Source

However, asset quality showed some stress, with gross non-performing assets (NPAs) increasing to Rs 3,353 crore from Rs 1,415 crore YoY, and net NPAs rising to Rs 1,627 crore from Rs 666 crore.

IREDA Fundraise in Q2

During the quarter, IREDA raised Rs 453 crore through a private placement of perpetual taxable unsecured bonds (Series POI-II).

Total borrowings stood at Rs 69,939 crore, including Rs 28,942 crore in debt securities and Rs 37,741 crore in loans, with no defaults reported. The company maintained a security cover of 2.61 times for its non-convertible debentures as of September 2025.

Earnings per share (EPS) increased to Rs 1.97 from Rs 1.44 a year ago, while net worth rose to Rs 12,920 crore from Rs 9,336 crore. The debt-to-equity ratio improved slightly to 5.41 from 5.85.

IREDA Share Price

IREDA’s shares gained as much as 3.7 per cent on Tuesday to Rs 155.59. The stock has delivered mixed performance over different periods: 1 per cent gain in the past week, 3.63 per cent rise in two weeks, and 4.61 per cent increase over the past month. However, the PSU stock fell 3 per cent over three months and declined around 30 per cent on a year-to-date basis.