IREDA shares rally 7% after Q4 profit surges 49% YoY to Rs 502 crore

Shares of Indian Renewable Energy Development Agency (IREDA) surged 6.5% to an intraday high of ₹177.80 on the NSE on Wednesday, after the company posted a 49% year-on-year rise in consolidated net profit for the March quarter, reaching ₹502 crore compared to ₹337 crore in the same period last year.