IREDA signs MoU with Government, Revenue Target for 2023-24 set at ₹ 4,350

IREDA signs MoU with Government, Revenue Target for 2023-24 set at ₹ 4,350: Indian Renewable Energy Development Agency (IREDA), a Mini Ratna (Category – I) Government of India enterprise under the administrative control of Ministry of New and Renewable Energy, has signed a performance-based Memorandum of Understanding (MoU) with the Ministry of New and Renewable Energy, Government of India. The MoU, in alignment with guidelines issued by Department of Public Enterprises, Ministry of Finance, outlines strategic targets that IREDA aims to achieve during the fiscal years 2023-24 and 2024-25.

Daily Current Affairs Quiz: August 2023

IREDA is a Mini Ratna (Category – I), Government of India, enterprise. The Gov of India has set a Revenue from Operation target of Rs 4,350 crores for the FY 2023-24 and Rs 5,220 crores for 2024-25.

As per the MoU, the Government of India has set a Revenue from Operations target for IREDA, of ₹ 4,350 crores for the financial year 2023-24 and ₹ 5,220 crores for 2024-25. Notably, the company had achieved a Revenue from Operations figure of ₹ 3,482 crores in the preceding fiscal year, against a target of ₹ 3,361 crores.

The government has also specified other key performance parameters in the MoU, including Return on Net Worth, Return on Capital Employed, NPA to Total Loans Ratio, Asset Turnover Ratio, and Earnings per Share.

The MoU was signed by Secretary, MNRE, Shri Bhupinder Singh Bhalla and Chairperson & Managing Director (CMD), IREDA, Shri Pradip Kumar Das at Atal Akshay Urja Bhawan, New Delhi on August 21, 2023. Other senior officials of MNRE and IREDA were also present on the occasion.