As IREDA is set to announce its earnings for the second-quarter today, the shares of the company is trading on a positive note, increasing nearly 2 per cent in early trading.
At 2:16 PM IST, the company's shares were trading at Rs 234.05, up by 1.27 per cent. The stock opened at Rs 233.60, reaching a high of Rs 237.00 and a low of Rs 231.60 during the session.
Share performance The company's market capitalisation rose to Rs 62,436 crore, with a turnover of Rs 17.13 crore as 7.33 lakh shares changed hands.
IREDA’s Historical Performance
Looking at the historical performance of the company, the company's stock reached an all-time high of Rs 310 on July 15, 2024, after making its debut on the BSE and NSE at a premium of 56.25 per cent over its issue price of Rs 50 on November 29, 2023.
The IPO had a price band set between Rs 30 to Rs 32.
Similarly, the stock hit a 52-week low of Rs 49.99 on November 29, 2023.
Financial Highlights
In the first quarter of the current fiscal year, the company reported a 30 per cent surge in profit after tax (PAT), rising to Rs 384 crore from Rs 295 crore in the same quarter last year.
Revenue from operations also increased by 32 per cent year-on-year, reaching Rs 1,510 crore, compared to Rs 1,143 crore in the previous year.
In the Q1 results, the company's non-performing assets (NPAs), which stood at Rs 1,385 crore, a 2.19 per cent of the total loan book.
The company has raised Rs 5,373 crore in the recent quarter, with 84 per cent of its borrowings sourced domestically, an increase from 75 per cent in the previous year.
