Waaree Energies stock fell nearly 5% following company reported its unaudited financial results for the second quarter ended September 30, 2024. While the company showcased steady revenue performance, profitability improvements were largely attributed to other income.
Key Financial Highlights (Q2 FY25):
- Revenue from Operations: ₹3,574.4 crore, marginally up from ₹3,537.8 crore in Q2 FY24 and 4.8% higher than ₹3,409.9 crore in Q1 FY25.
- Net Profit: ₹375.69 crore, a 17.4% YoY increase from ₹320 crore in Q2 FY24, but a 6.3% decline from ₹401.12 crore in Q1 FY25.
- Total Income: ₹3,663.5 crore, including other income, compared to ₹3,558.5 crore in Q2 FY24 and ₹3,496.4 crore in Q1 FY25.
- Expenses: Total expenses rose to ₹3,164.6 crore, driven by increased material consumption and finance costs, up from ₹3,123.9 crore in Q2 FY24 and ₹2,965.8 crore in Q1 FY25.
As of 9:18 am the shares were trading 4.60% lower at ₹2,971.20
Despite a robust YoY profit growth, the sequential decline in net profit and reliance on other income for performance improvement have weighed on investor sentiment, leading to a drop in Waaree Energies’ stock price.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Always consult a financial advisor before making investment decisions. Neither the author nor Business Upturn is liable for any losses arising from the use of this information.
