desk
Share
News Topical, Digital Desk : Shares of the Indian Renewable Energy Development Agency (IREDA) and Tata Group company Tejas Networks saw significant fluctuations in the stock market on Monday, January 12, following results. While IREDA shares rose more than 4 percent, Tejas Networks shares fell 13 percent to a record low.
IREDA released its third-quarter results for the current fiscal year 2026 on January 9. The company's profit rose 37.5% year-on-year to ₹584.91 crore, compared to ₹425.38 crore in the same quarter last year. Following the strong results, the stock rose more than 4% to ₹142.30.
IREDA's revenue increased. IREDA's operational revenue increased by more than 25% to ₹2,129.87 crore in the third quarter. The company's loan book grew 28% year-on-year to ₹87,975 crore. Net worth also increased by 38% to ₹13,537 crore.
Slight Weakness in Asset Quality IREDA's asset quality deteriorated slightly during the quarter. Net NPAs increased from 1.5% to 1.68%. Despite this, brokerage firms believe the company's margins and earnings are returning to normal. According to ICICI Direct Research, IREDA's performance improved due to strong disbursements in the solar, state utilities, and ethanol segments. Meanwhile, Bonanza analyst Khushi Mistry said the company's outlook remains positive due to the strong momentum in the renewable energy sector.
Tejas Networks Q3 Results: Turning from profit to loss, Tejas Networks reported a consolidated net loss of ₹196.55 crore in Q3 FY26, compared to a profit of ₹165.67 crore in the same quarter last year. The weak results sent the stock plunging nearly 13% to a new 52-week low of ₹364.25. Tejas Networks' operating revenue declined by more than 88% to ₹306.79 crore in the third quarter. However, the company's losses narrowed slightly on a quarterly basis compared to Q2 FY26. The company reported that its order book stood at ₹1,329 crore at the end of Q3. Net debt declined to ₹3,349 crore, although total debt remains high due to capex.
--Advertisement--
