New Delhi: Waaree Renewable Technologies reported a more than twofold jump in its consolidated net profit to Rs 116.34 crore for the September quarter, driven by higher revenues and strong business expansion.
The company had posted a net profit of Rs 53.51 crore in the same quarter last year, according to its BSE filing.
In a statement, Waaree Renewable said it achieved its highest-ever quarterly revenue and profit after tax (PAT), supported by robust project execution, favorable market conditions, and diversification into new energy segments such as Battery Energy Storage Systems (BESS) and data centres.
Revenue for the quarter rose 47.73% to Rs 774.78 crore, compared to Rs 524.47 crore in Q2 FY24.
The company’s unexecuted order book stands at 3.48 GWp, scheduled for completion over the next 12–15 months, while its bidding pipeline remains strong at over 27 GWp.
Waaree Renewable’s board also approved a capital expenditure plan for setting up 28 MWp IPP solar power plants (14 MWp each) at two sites in Maharashtra, and another 37.5 MWp IPP solar project in Bikaner, Rajasthan.
A subsidiary of Waaree Energies Ltd, the company finances, builds, owns, and operates solar projects across various regions, contributing to India’s transition towards clean and sustainable energy.
