Shares of Indian Renewable Energy Dev Agency Ltd. (IREDA) are surging in trade on Monday after the company reported its third-quarter earnings for the financial year ending March 2026.
The stock is currently trading near Rs 140, accounting for gains of around 2%. Shares of IREDA have fallen as much as 30% in the last 12 months.
This comes on the back of IREDA’s Q3 earnings that saw net profit jump as much as 37% on a year-on-year basis to Rs 585 crore.
Total income for IREDA grew 26% to Rs 2,140 crore vs Rs 1,699 crore in the year-ago period.
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Earlier in the month, IREDA had reported a strong Q3 business update, registering an uptick in loan disbursements, up 44% year-on-year to Rs 24,903 crore from Rs 17,236 crore.
Loans sanctioned also saw a 29% year-on-year increase to Rs 40,100 crore, from Rs 31,087 crore. Meanwhile, the financier’s loan book also rose 28% year to Rs 87,975 crore as of December-end.
Shares of IREDA are currently trading at a relative strength index of 62, which suggests neutral market sentiment for the counter.
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