IREDA Share Price Soars as Company Announces Strong Financial Results
Indian Renewable Energy Development Agency Limited (IREDA) shares are on a rapid rise as the company recently announced its financial results for the March 2024 quarter. IREDA recorded a 33% increase in net profit, totaling ₹337.37 crore in the March quarter. The company has also seen a strong growth in profitability due to increasing revenue.
On Monday, April 22, 2024, IREDA’s share price was trading at ₹174, up by 8.28%. However, on Tuesday (April 23, 2024), the share price saw a slight dip of 1.26% to trade at ₹168.
In the January-March quarter of 2022-23, IREDA reported a net profit of ₹253.61 crore. Last week, in the trading session on Friday, the company’s share closed at ₹160.80, a decrease of 1.41%.
For the fourth quarter of the financial year 2023-24, IREDA has earned a revenue of ₹1,391.63 crore, compared to ₹1,036.31 crore in the same quarter of the previous year. The company’s expenses for this quarter were recorded at ₹911.96 crore.
Over the past five months, IREDA shares have provided a strong return of 400% to investors. The company’s shares were listed on the stock exchange on November 29. The share price was set at ₹32 during the company’s IPO.
In the last month, IREDA’s share price has increased by 24.2%. The 52-week high for the company’s share was ₹215, while the low was ₹49.99. IREDA’s total market capitalization stands at ₹43,219.26 crore.
Keep an eye on IREDA as its shares continue to show strong performance in the market!
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