Indian Renewable Energy Development Agency Ltd( IREDA), last week 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.