Waaree Renewable Technologies shares drop 5% as company reports 31.31% QoQ decline in revenue

Waaree Renewable Technologies Limited’s shares witnessed a decline of 5% following the announcement of its financial results for the third quarter ended December 31, 2024.

The company reported a revenue from operations of ₹360.34 crore, reflecting a significant 31.31% quarter-on-quarter (QoQ) drop from ₹524.46 crore but an 11.13% year-on-year (YoY) increase from ₹324.19 crore.

Total income for the quarter stood at ₹364.12 crore, which represents a 31.05% decline QoQ from ₹528.86 crore and a 12.36% YoY growth from ₹324.68 crore. Despite the revenue decline, net profit for the period was reported at ₹53.48 crore, marginally lower by 0.06% QoQ from ₹53.51 crore and down by 16.73% YoY compared to ₹64.23 crore.

Total expenses for Q3 FY25 were ₹293.39 crore, marking a substantial 35.99% QoQ reduction from ₹458.57 crore but a rise of 27.88% YoY from ₹228.29 crore. The mixed performance, characterized by declining revenues and modest profit levels, seems to have triggered a bearish sentiment among investors, leading to the drop in the company’s share price.

WAAREE RENEWABLE TECHNOLOGIES Share Price history

Day Open Close Change %
Wed, Jan 15 2025
₹1,158.30
₹1,145.95
+2.45%
Tue, Jan 14 2025
₹930.00
₹1,118.55
+17.62%
Mon, Jan 13 2025
₹1,157.00
₹951.00
-20.00%
Fri, Jan 10 2025
₹1,251.30
₹1,188.75
-5.00%
Thu, Jan 9 2025
₹1,286.10
₹1,251.30
-2.58%
Wed, Jan 8 2025
₹1,310.00
₹1,284.40
-3.03%
Tue, Jan 7 2025
₹1,288.00
₹1,324.55
+0.19%
Mon, Jan 6 2025
₹1,391.60
₹1,322.05
-5.00%

 

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