Indian Renewable Energy Development Agency Ltd. (IREDA), a Government of India Enterprise under Ministry of New and Renewable Energy (MNRE) today presented a cheque of Rs. 20.00 crore to Government of India towards dividend for the Financial Year 2010-11. The dividend cheque was presented to Minister of New and Renewable Energy Dr. Farooq Abdullah by Chairman and Managing Director, IREDA, Shri Debashish Majumdar in the presence of Secretary, Ministry of New and Renewable Energy Sh. Deepak Gupta at a function in New Delhi. The dividend payment to the Government of India by IREDA has increased by over 37% as compared to the previous year.
IREDA finances Renewable Energy and Energy Efficiency Projects. During the year 2010-11, IREDA posted a robust all-round performance with an all-time high Profit Before Tax (PBT) at Rs. 166.70 crore registering a 18.19% rise over the previous fiscal, and recorded its highest ever Profit After Tax (PAT) of Rs.120.46 crore as compared to Rs. 72.69 crores over the previous fiscal. Loan sanctions and disbursements during the year stood at Rs. 3126.42 crore and Rs. 1224.17 crore respectively which is an increase of 71.41% in sanctions and 37.54% in the disbursement as compared to the last year.