Waaree Energies shares surge 14% as Q3 profit soars 296% YoY to Rs 493 crore

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Shares of Waaree Energies climbed as much as 14.4% on Friday to Rs 2,505.85 on the BSE, after the renewable energy firm reported a 296% year-on-year (YoY) jump in consolidated net profit for Q3FY25. The company posted a net profit of Rs 493 crore for the quarter ended December 2024, compared to Rs 124 crore in the same period last year.

Revenue from operations stood at Rs 3,457 crore, marking a 117% increase from Rs 1,596 crore in Q3FY24. However, on a sequential basis, revenue declined by 3.2% from Rs 3,574 crore in the previous quarter (Q2FY25), while profit after tax (PAT) rose 36% from Rs 362 crore.


Despite a significant rise in profitability, total expenses increased to Rs 2,855 crore in Q3FY25, compared to Rs 1,517 crore a year earlier. However, expenses declined quarter-on-quarter from Rs 3,165 crore in Q2FY25.

The company also reported a 257% YoY surge in EBITDA, with margins expanding to 22.84% from 13.73% in Q3FY24. Meanwhile, its order book stood at 26.5 GW, valued at Rs 50,000 crore as of December 31, 2024.


Operationally, Waaree commenced trial production at its 5.4 GW solar cell manufacturing facility, while its 1.6 GW solar module line in the US began commercial production.

Commenting on the results, Amit Paithankar, CEO of Waaree Energies, highlighted the company’s strong positioning in the evolving energy landscape. "Our solar business continues to be strong, and we are rapidly advancing in the adjacencies of energy storage systems, green hydrogen, inverters, and renewable infrastructure. The momentum in this space is stronger than ever, and we are well-positioned to capitalize on it," Paithankar stated.Paithankar also noted that the US contributed approximately 15-20% of Waaree’s revenue, underscoring the company’s focus on global expansion. “We are strengthening our presence in high-potential regions, ensuring we stay ahead in this fast-evolving industry. We are excited about the road ahead and remain committed to driving meaningful change in the energy sector," he added.Also read | Small and midcap stocks down 15% in 4 months, Nuvama shares 20 bottom-up ideas

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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