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IREDA Q2 Profit Jumps 42% on Higher NII as Shares Tick Up

Investor caution lingers despite the earnings beat.

Overview

  • Revenue rose 26.2% year over year to Rs 2,057 crore for the September quarter.
  • Net profit increased to about Rs 549 crore as net interest income surged 49.4% to Rs 817 crore.
  • Shares gained as much as 3.68% intraday to Rs 155.59 on the NSE following the results.
  • The stock is still down 30.67% over the past 12 months and 28.60% year to date.
  • Only two analysts cover the company with one buy and one hold rating, and a 12‑month consensus target of Rs 151.79.