Indian Renewable Energy Development Agency Q3 FY26 results: net profit ₹585.16 crore

How did Indian Renewable Energy Development Agency perform in Q3 FY26?

Indian Renewable Energy Development Agency reported consolidated revenue of ₹2,130 crore in Q3 FY26, up 3.5% from ₹2,057 crore in Q2 FY26. Total income increased 4.0% from ₹2,057.85 crore to ₹2,139.92 crore, while total expenses rose 4.5% from ₹1,361 crore to ₹1,423 crore. The company reported no exceptional item for the quarter.

Consolidated profit before tax rose 3.0% to ₹717.19 crore from ₹696.39 crore in Q2 FY26, and net profit increased 6.5% to ₹585.16 crore from ₹549.33 crore. Basic EPS rose from ₹1.97 to ₹2.09, and the net profit margin increased from 26.7% to 27.5%. On the standalone basis, revenue was ₹2,129.89 crore, up 25.4% from the year-ago quarter, while PAT was ₹584.91 crore against PAT before exceptional item of ₹425.38 crore.

For the first nine months, consolidated revenue was ₹6,135.26 crore, total income was ₹6,157.61 crore, profit before tax was ₹1,718.43 crore, and net profit was ₹1,381.36 crore. Basic EPS for 9M FY26 was ₹4.97. The company’s investor presentation reported revenue from operations of ₹2,130 crore for Q3 FY26 against ₹1,698 crore in Q3 FY25-26, and profit after tax of ₹585 crore against ₹425 crore.

What else did the company announce?

On 9 January 2026, the board approved the standalone and consolidated audited financial results for the quarter and nine months ended 31 December 2025. The meeting began at 05:15 P.M. and concluded at 07:10 P.M., and the filing enclosed the financial results and the statutory auditor’s report.

The company also filed an investor presentation for the period ended 31 December 2025 on the same day. The presentation reported standalone revenue from operations of ₹2,130 crore, profit before tax of ₹717 crore, and profit after tax of ₹585 crore for the quarter. It also reported an outstanding loan book of ₹87,975 crore and net worth of ₹13,537 crore as of 31 December 2025. The same-day materials did not announce a dividend, fund raise or appointment.

What did the auditors point out?

The consolidated interim financial statements gave a true and fair view, and the auditors said their opinion was not modified in respect of the matters highlighted. The emphasis of matter noted that the holding company had classified certain loans aggregating to 400.24 crore as stage III or non-performing assets under interim orders of Hon’ble High Courts. Interest income on these accounts was recognised on a collection basis, with allowance for impairment loss made accordingly.

The auditors also stated that reported CRAR as of 31 December 2024 was 19.63%, based on a 50% risk weight for certain commissioned renewable energy infrastructure project assets. After the company applied a 100% risk weight from 31 March 2025, the corresponding CRAR was restated to 15.52%, in accordance with RBI directions. The report did not identify a qualified opinion or a material uncertainty related to going concern.

How did Indian Renewable Energy Development Agency shares react?

The results were filed after market hours. The stock was up 0.5% after five minutes, down 0.2% after 15 minutes and down 1.5% after 30 minutes. It closed the reaction day up 3.5% from its pre-results close of ₹137.10, compared with a 1.4% median rise for the other Financial Institution stocks and a 0.2% fall for the Nifty Midcap 150.

By the next day’s close, the stock was up 2.2% from its pre-results close, while the industry median was up 1.3% and the Nifty Midcap 150 was down 0.3%. By the fifth session, the stock was down 5.0% from the pre-results close, compared with a 0.2% rise for the industry and a 3.0% fall for the Nifty Midcap 150. Its reaction-day excess return over the industry median was 2.1 percentage points.

Earlier reaction-day moves were mixed: the stock rose 2.9% on 14 October 2025 and 4.9% on 15 April 2025, while it fell 5.8% on 10 July 2025 and 5.7% on 9 January 2025. Moves on 10 October 2024 and 12 July 2024 were down 2.3% and up 2.5%, respectively, while the move on 19 April 2024 was up 6.2%.

How did other Financial Institution companies do?

Six other Financial Institution companies had filed for the quarter. Their median revenue growth was 6.9%, compared with revenue growth of 25.4% for IREDA on the standalone basis. The available peer data do not state how many grew slower or faster than IREDA, so those counts cannot be provided.

Four of the seven peers for which profit was compared reported higher profit, while IREDA’s standalone PAT was ₹584.91 crore. The peer comparison is stated as of 5 November 2026, although the Q3 FY26 results were announced on 9 January 2026.