New Delhi: The Indian Renewable Energy Development Agency (IREDA) on Friday signed a memorandum of understanding (MoU) with the Ministry of New and Renewable Energy (MNRE) to set performance targets for 2022-23.
government has set a target 3,361 crore for revenue from operations, an increase of 18% over the previous year’s achievement.
According to a statement by the Ministry of New and Renewable Energy, the government has also prescribed various performance-related key parameters such as return on net worth, return on capital employed, non-performing assets NPA to total loans, asset turnover ratio and earning per share. shares, etc.
According to the statement, Pradeep Kumar Das highlighted that IREDA has been performing exemplary for the last two financial years and is all set to meet these targets.
The company reported a 67% growth in Profit After Tax (PAT) in Q2 FY 2022-23 over the corresponding period of FY 2021-22. Net NPAs declined from 4.87% in Q2 to 2.72% as compared to the same period during FY 2021-22.
According to the statement, IREDA has shown exceptional performance by securing 96.54 points for the MoU for the financial year 2021-22.
The company has funded loan accounts of over 3,068 renewable energy projects with cumulative loan approvals and disbursements till date. 1,41,622 crore and 90,037 crore respectively and have supported renewable energy capacity addition of 19,502 MW in the country.
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