Press Information Bureau

Government of India

Ministry of New and Renewable Energy

12-October-2012 17:16 IST

Indian Renewable Energy Development Agency Ltd( IREDA), today presented a cheque of Rs. 25 Crores to Dr. Farooq Abdullah, New and Renewable Energy towards dividend for FY 2011-12.   The amount of dividend presented today is an increase of 25% as compared to last year. (IREDA), a Government of India Enterprise under Ministry of New and Renewable Energy (MNRE) is a pioneer in financing renewable energy and energy efficiency projects with high brand value in renewable energy and energy efficiency financing. IREDA has been a catalyst in financing of renewable energy in the country and has the unique opportunity of contributing to the process of policy formulation by the Government.

During the financial year 2011-12, IREDA posted robust performance with an all-time high Profit before Tax (PBT) at  208.12 Crores registering a 24.85% rise over the previous fiscal and recorded its Profit After Tax of 173.13 crores compared to 120.46 crores over the previous fiscal.

Loan sanctions and disbursements during the year 2011-12 stood at 3405.96 crores and 1855.04 Crores respectively which is an increase of 8.94% in sanctions and 51.53% in disbursement as compared to the last year.

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Dividend payment signals increased shareholder distribution following strengthened profitability at a public renewable energy finance institution. The government-owned renewable energy finance institution presented a dividend cheque for the fiscal year, reflecting an increase over the prior year and premised on strengthened earnings, including an all time high Profit Before Tax and increased Profit After Tax. The distribution follows year-on-year growth in loan sanctions and disbursements and is framed within the institution's role in financing renewable energy, contributing to policy formulation and public sector shareholder relations.