Waaree RTL Q3FY25 Results: Company announces interim dividend

Waaree Renewable Technologies Ltd announced an interim dividend of ₹1.00 per equity share, with a record date set for January 24, 2025. However, the company’s financial performance for Q3 FY25 presented mixed results, contributing to a bearish sentiment in the stock market.

The company reported revenue from operations of ₹360.34 crore, marking a steep 31.31% quarter-on-quarter (QoQ) decline from ₹524.46 crore. On a year-on-year (YoY) basis, revenue increased by 11.13% compared to ₹324.19 crore in Q3 FY24. Total income for the quarter stood at ₹364.12 crore, reflecting a 31.05% QoQ decline from ₹528.86 crore, but a 12.36% YoY growth from ₹324.68 crore.

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Despite the revenue decline, Waaree Renewable reported a net profit of ₹53.48 crore, showing a marginal 0.06% dip QoQ from ₹53.51 crore. However, this represented a 16.73% decline YoY from ₹64.23 crore. The company’s total expenses for the quarter were ₹293.39 crore, down by a significant 35.99% QoQ from ₹458.57 crore but up by 27.88% YoY compared to ₹228.29 crore.

The combination of declining revenues, stable profit levels, and reduced expenses has likely contributed to the bearish market sentiment, resulting in a sharp drop in Waaree Renewable’s share price. The stock closed 4.80% lower at ₹1,091 on the Bombay Stock Exchange (BSE).

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