IREDA shares jump nearly 6% post earnings announcement

New Delhi: Shares of IREDA on Wednesday jumped nearly 6 per cent after the state-owned firm reported a 49 per cent rise in standalone profit after tax in the quarter ended March 2025.

The stock surged 5.57 per cent to Rs 176.40 apiece on the BSE. During the day, it climbed 7.42 per cent to Rs 179.50.

On the NSE, the stock jumped 5.64 per cent to Rs 176.41 each.

IREDA (Indian Renewable Energy Development Agency Ltd) on Tuesday reported a 49 per cent rise in standalone profit after tax to Rs 502 crore in the quarter ended March 31, 2025.

Its revenue from operations rose 37 per cent year-on-year (YoY) to Rs 1,904 crore in the fourth quarter, the company said in a statement.

For FY25, the company said its profit after tax (PAT) was the highest ever at Rs 1,699 crore, up 36 per cent compared to FY24.

As of March, the company said its net worth was Rs 10,266 crore, up 20 per cent YoY.

Meanwhile, capital markets regulator Sebi on Tuesday barred Gensol Engineering and promoters -- Anmol Singh Jaggi and Puneet Singh Jaggi -- from the securities markets till further orders in a fund diversion and governance lapses case.

At the heart of the controversy is the alleged misutilisation of term loans availed by Gensol Engineering Ltd (GEL) from IREDA and PFC.

Shares of PFC ended 0.47 per cent lower at Rs 423.90 apiece on the BSE.