IREDA is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy and energy efficiency/conservation IREDA recently said it has achieved its highest-ever annual loan sanctions and disbursements in the just-concluded financial year 2023-24.
State-owned Indian Renewable Energy Development Agency (IREDA) said it was granted the ‘Navratna’ status by the Union government on April 26.
In an exchange filing, IREDA said that the Department of Public Enterprises (DPE) has granted the ‘Navratna status’.
IREDA, under the Ministry of New and Renewable Energy, is a non-banking financial institution engaged in promoting, developing and extending financial assistance for setting up projects related to new and renewable sources of energy and energy efficiency/conservation.
The company on April 19 reported 33 percent jump in consolidated net profit at Rs 337 crore for the quarter ended March 31, 2024, compared to Rs 254 crore in the year-ago period.