Shares of BSE-listed Waaree Renewable Technologies Limited (Waaree RTL), the engineering, procurement, and construction (EPC) arm of the Waaree Group, have soared by an impressive 548.55% over the past year, gaining 5% in recent trading after the release of its robust Q2FY25 results.
Key Highlights of Q2FY25 Performance:
- Profit Growth: The company’s net profit for the September quarter nearly tripled, reaching ₹53.51 crore, a 160% increase from ₹20.54 crore in Q2FY24. This strong growth was fueled by a significant rise in revenue.
- Revenue Surge: Total income jumped to ₹527.86 crore, up from ₹150.93 crore in the same quarter last year, underscoring Waaree RTL’s operational excellence and expansion in the renewable energy sector.
Investor Sentiment and Market Performance:
This stellar financial performance has led to a strong uptick in investor sentiment, resulting in a 5% rise in Waaree RTL’s share price. Over the past week alone, the stock has gained 25.98%, and it is up 2.04% for the month. The stock’s remarkable 548.55% growth over the past year reflects growing investor confidence in the renewable energy sector, particularly in companies like Waaree RTL with a strong solar and clean energy focus.
About Waaree Renewable Technologies:
Waaree RTL is a prominent player in India’s renewable energy landscape. The company specializes in solar EPC services and the generation of power through renewable energy sources. It operates as a solar developer, handling financing, construction, and management of solar projects. Waaree RTL’s offerings include:
- Rooftop and Ground-Mounted Solar: Tailored for on-site installations.
- Floating Solar: Uses water bodies for solar installations, an innovative solution for optimizing space and generating clean energy.
- RESCO Model: A turnkey solution where Waaree RTL manages installation, financing, operations, and ownership for rooftop solar projects, reducing barriers for clients.
As demand for sustainable energy solutions grows, Waaree RTL is well-positioned with its comprehensive range of services and proven expertise in solar power. Investors are increasingly drawn to the company’s potential for future growth in India’s expanding renewable energy sector.
As of 11:07 am, Waaree Renewable Technologies shares were trading at ₹1,734.75 on the BSE, with strong weekly, monthly, and yearly gains, making it a favored pick among renewable energy investors.
