IREDA · Financial Services
Indian Renewable Energy Development Agency Ltd. reported total income of ₹2,344 cr for July to September 2026, +14.0% on the year and +4.3% on the quarter. That is slower than this quarter has grown in recent years (+32.3% on average). It is the highest quarterly income in the last 12 quarters on record. Over the last four quarters income comes to ₹8,897 cr, +17.0% on the four before.
Net interest income, interest earned less interest paid, was ₹968 cr, +14.7% on the year and +6.7% on the quarter. For a lender this is the core earnings line: it shows whether the loan book and its pricing are growing faster than the cost of funds.
Net profit was ₹554 cr, +0.9% on the year and +63.9% on the quarter, with earnings per share of ₹1.97. The tax rate of 22% is in line with its recent average. Profit over the last four quarters totals ₹1,970 cr, +14.3% on the four before.
Of the 44 companies in NBFCs and housing finance that have reported Q2 FY27 so far, Indian Renewable Energy Development Agency Ltd. ranks 41st on profit growth; the sector median is +25.4%.
An NBFC's quarter turns on loan growth, its cost of borrowing and credit costs; profit can rise for a while simply because provisions fall. The quarterly statements do not carry AUM growth, stage 2 and 3 assets, credit cost and the cost of funds; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, Asset quality (lenders), Net interest margin (lenders). Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
Lenders are read on NIM, asset quality, provision cover and credit cost. Those come from the filing read, which is not in yet for this quarter, so margin, other-income and cash checks are withheld rather than shown on a template built for manufacturers.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Total income | ₹1,253 cr | ₹1,391 cr | ₹1,510 cr | ₹1,630 cr | ₹1,698 cr | ₹1,904 cr | ₹1,947 cr | ₹2,057 cr | ₹2,130 cr | ₹2,175 cr | ₹2,248 cr | ₹2,344 cr |
| YoY | — | — | +32% | +38% | +36% | +37% | +29% | +26% | +25% | +14% | +15% | +14% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 13% | 30% | 19% | 16% | 21% | 20% | 19% | 21% | 18% | 20% | 18% | 22% |
| Net profit | ₹336 cr | ₹337 cr | ₹384 cr | ₹388 cr | ₹425 cr | ₹502 cr | ₹247 cr | ₹549 cr | ₹585 cr | ₹493 cr | ₹338 cr | ₹554 cr |
| YoY | — | — | +30% | +36% | +26% | +49% | −36% | +41% | +38% | −2% | +37% | +1% |
| EPS | ₹1.25 | ₹1.26 | ₹1.43 | ₹1.44 | ₹1.58 | ₹1.87 | ₹0.88 | ₹1.95 | ₹2.08 | ₹1.75 | ₹1.20 | ₹1.97 |
| Flags | 1 | · | 2 | 2 | ✓ | 1 | 1 | ✓ | ✓ | 1 | ✓ | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Indian Renewable Energy Development Agency Ltd. reported total income of ₹2,344 cr (+14.0% on the year) and net profit of ₹554 cr (+0.9% on the year) for July to September 2026.
None of the 4 checks that could run raised a question.
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