Indian Renewable Energy Development Agency Q2 Results Live : Indian Renewable Energy Development Agency (IREDA) announced its Q2 results on 10 October 2024, showcasing a strong performance with a 37.11% year-on-year increase in revenue and a 36.18% rise in profit.
Compared to the previous quarter, the revenue grew by 6.45%, while profit saw a modest increase of 1.06%. These figures indicate a consistent upward trend in the company’s financial health.
The company’s selling, general, and administrative expenses rose by 5.12% quarter-on-quarter, but showed a slight decrease of 0.76% year-on-year, reflecting operational efficiency amidst rising costs.
Operating income experienced a decline of 8.23% from the previous quarter, although it still marked a significant increase of 34.89% year-on-year, highlighting the company’s resilience in a competitive market.
Earnings per share (EPS) for Q2 stood at ₹1.55, which is a notable increase of 29.45% year-on-year, signaling strong profitability and shareholder returns.
In terms of stock performance, IREDA has delivered a 4.64% return over the last week, a remarkable 40.44% return over the past six months, and an impressive 127.32% year-to-date return, attracting investor interest.
Currently, the Indian Renewable Energy Development Agency boasts a market capitalization of ₹62810.38 crore, with a 52-week high and low of ₹310 and ₹50, respectively, underscoring its volatile yet promising stock performance.
As of 11 October 2024, among the two analysts covering IREDA, one has issued a ‘Sell’ rating while the other has provided a ‘Buy’ rating, indicating a divided outlook on the company’s future prospects.
Indian Renewable Energy Development Agency Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 1612.21 | 1514.46 | +6.45% | 1175.83 | +37.11% |
| Selling/ General/ Admin Expenses Total | 20.86 | 19.84 | +5.12% | 21.02 | -0.76% |
| Depreciation/ Amortization | 9.43 | 8.63 | +9.2% | 7.13 | +32.21% |
| Total Operating Expense | 1138.13 | 997.87 | +14.06% | 824.38 | +38.06% |
| Operating Income | 474.09 | 516.6 | -8.23% | 351.46 | +34.89% |
| Net Income Before Taxes | 459.91 | 475.74 | -3.33% | 379.9 | +21.06% |
| Net Income | 387.75 | 383.69 | +1.06% | 284.73 | +36.18% |
| Diluted Normalized EPS | 1.55 | 1.34 | +15.4% | 1.19 | +29.45% |
