Waaree Energies Ltd on January 30 reported a four-fold jump in net profit at Rs 492.7 crore in the quarter ended December 31 of the current financial year, compared to Rs 124.5 crore in the same period of the previous financial year, the company said in an exchange filing.
The company’s net profit stood at Rs 361.6 crore in the September quarter, the filing showed.
The firm’s revenue jumped over 116 percent to Rs 3,457.28 crore in the reported quarter, over Rs 1,596.183 crore in the year-ago period. The revenue was at Rs 3,574.377 crore in the September quarter, the company filing said.
The stock of the company closed 0.91 percent higher at Rs 2,227.65 on the NSE on January 30.
“As an energy transition company, we see immense opportunities and are well-positioned to tap into new business areas. 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,” said Amit Paithankar, whole-time director and CEO of Waaree Energies.
The market dynamic in this field has never been stronger, and our company maintains excellent potential to benefit from it. The enhancement of scalability alongside internal efficiency improvements has generated clear improvements throughout our 9M FY25 financial period.
According to him, the organization focuses on strong execution and controlled growth as fundamental elements of our strategy.
The United States accounted for between 15 and 20 percent of our revenue combinations. Our worldwide expansion targets strategic global markets to maintain leadership performance in the fast-moving energy industry. Paithankar expresses his company’s enthusiasm about future opportunities while maintaining its dedication to bringing beneficial energy shifts to the power sector.
The company statement also highlighted that its order book stood at 26.5 GW and was valued at approximately Rs 50,000 crore as of date. It also said that the trial production has commenced at a 5.4 GW solar cell manufacturing facility, and the firm has started commercial production of a 1.6 GW solar module line in the US.
“The US contributed ~15-20 percent of our revenue mix. As we expand globally, we are strengthening our presence in high-potential regions, ensuring that we stay ahead of the curve in this fast-evolving industry. We are excited about the road ahead and remain committed to driving meaningful change in the energy landscape,” said Paithankar.
Market Sentiment And Future Prospects
The market’s enthusiastic response to Waaree Energies’ Q3 results reflects growing investor confidence in the company’s strategic direction and operational execution. The renewable energy sector is witnessing heightened interest as governments and corporations globally prioritize sustainability and clean energy initiatives.
Amit Paithankar, Whole Time Director and CEO of Waaree Energies expressed optimism about the company’s future prospects, emphasizing their focus on expanding into adjacent markets such as energy storage systems and green hydrogen technologies.
He noted that as an “energy transition company,” Waaree is well-positioned to leverage emerging opportunities in these sectors.