Waaree Renewable Technologies Ltd reported impressive financial results for the second quarter of FY25, showcasing significant growth in revenue and profit. Key highlights for the quarter ended September 30, 2024, are as follows:
- Revenue from Operations: The company recorded a substantial increase in revenue, reaching ₹5,244.65 crore, a remarkable jump from ₹1,500.63 crore in Q2 FY24. This surge underscores the growing demand for Waaree’s renewable energy solutions.
- Total Income: Including other income, total income for the quarter stood at ₹5,278.69 crore, compared to ₹1,509.34 crore in the same period last year.
- Expenses: Total expenses rose in line with revenue, amounting to ₹4,585.69 crore, driven by higher costs associated with EPC contracts and employee benefits.
- Profit Before Tax (PBT): Waaree’s profit before tax increased to ₹693 crore, up from ₹275.49 crore in Q2 FY24, highlighting efficient cost management despite rising operational expenses.
- Net Profit: The net profit for the period doubled year-on-year to ₹535.16 crore, from ₹296.68 crore in Q2 FY24, reflecting robust operational growth and improved margins.
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Key Financial Highlights
- Revenue from Operations:
- YoY Growth: Revenue surged to ₹5,244.65 crore in Q2 FY25, a significant increase from ₹1,500.63 crore in Q2 FY24, marking a 249% YoY growth.
- QoQ Growth: Revenue also showed a strong 121.8% QoQ growth, rising from ₹2,363.55 crore in Q1 FY25.
- Total Income:
- Total income reached ₹5,278.69 crore in Q2 FY25, up from ₹1,509.34 crore in the same period last year, reflecting the company’s expanding operations in the renewable sector.
- Net Profit:
- YoY Growth: Net profit for Q2 FY25 doubled, reaching ₹535.16 crore, compared to ₹296.68 crore in Q2 FY24, showing a 80.5% YoY increase.
- QoQ Growth: Sequentially, net profit rose from ₹281.64 crore in Q1 FY25, recording a 90.1% QoQ growth.
Waaree Renewable Technologies continues to capitalize on the increasing shift towards renewable energy solutions, positioning itself as a key player in the sector. The company’s strategic focus on expanding its EPC and solar module manufacturing capacities is expected to support sustained growth in the coming quarters.
