Waaree Renewable Technologies Net More Than Doubled to ₹120 Cr in Q3

Waaree Renewable Technologies Ltd (WRTL) net profit more than doubled to ₹120.19 crore in December quarter compared to a year ago mainly on the back of higher revenues.

The company had a net profit of ₹53.48 crore in the quarter ended on December 31, 2024, a statement said.

"PAT stood at ₹120.19 crore as compared to ₹53.48 crore in Q3FY25 representing a growth of 124.74% YoY," it said. According to the statement, revenue in the quarter stood at ₹851.06 crore representing a growth of 136.18% YoY (year on year) as compared to ₹360.35 crores Q3FY25.

Its unexecuted order book stands at 2.92 GWp to be executed between 12-15 months and the bidding pipeline remains robust at 29 GWp.

The board has approved the capex budget for setting up of 120 MWp Solar Power Park in Buldhana, Maharashtra.

"Looking ahead, we will continue to strengthen capabilities, invest in innovation, and expand partnerships to capture emerging opportunities in the renewable ecosystem," Manmohan Sharma, CFO, WRTL said.

The WRTL is a subsidiary company of Waaree Group and spearheading the Solar EPC business.

It is also a solar developer that finances, constructs, owns and operates solar projects.

Headquartered in Mumbai, it operates across geographies, focusing on long- term investments within the commercial and industrial customer segments.