Waaree Energies Q3 Results: Net profit surges 260% YoY to ₹507 crore; revenue up 117%
Waaree Energies announced a 260 per cent rise in net profit to ₹507 crore in the Oct-Dec quarter results released on January 30. Shares closed lower ahead of earnings announcement on Thursday's market.
Waaree Energies Q3 Results: Waaree Energies Limited announced its October to December quarter results on Thursday, January 30. The company recorded a 260 per cent year-on-year (YoY) rise in net profits to ₹507 crore in the third quarter, compared to ₹141 crore in the same quarter a year ago, according to the consolidated financial statements.
The revenue from operations jumped 117 per cent to ₹3,458 crore in the October to December quarter of the financial year 2024-25, compared to ₹1,596 crore in the same quarter a year ago.
Waaree Energies's total expenses for the third quarter also jumped 88 per cent to ₹2,855 crore, compared to ₹1,517 crore in the same quarter the previous financial year. The sharp increase in the cost of raw materials and investor costs fueled the rise in total expenses for the quarter ended December 31, 2024.
The company's primary source of revenue, from Solar Photovoltaic modules, jumped 122 per cent to ₹3,108 crore in the October to December quarter, compared year-on-year with ₹1,402 crore a year ago.
Waaree Energies Share Price
Waaree Energies Ltd's shares closed 0.82 per cent lower at ₹2,190.65 after Thursday's market session, compared to ₹2,208.70 at the previous market close. The company announced its third-quarter results after stock market operating hours on January 30.
Shares hit a 52-week high at ₹3,740.75 on November 6, 2024, while the 52-week low was at ₹2,030 on January 1, 2025, according to data collected from the BSE website. The company's market capitalisation was at ₹62,933.69 crore as of January 30, 2025.
Waaree Energies shares have given investors (28.68) per cent negative returns since it was listed in November 2024. On a year-to-date (YTD) basis, the company's shares are trading 21.91 per cent lower in 2025.
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