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, i...