Q3 Results: Waare Energies Reports Four-Fold Jump in Net Profit at ₹493 Crore

Waare Energies reported its Q3 numbers on January 30. The net profit of the company soared four-fold at ₹493 crore, compared to ₹124.5 crore in the corresponding quarter a year earlier.

Revenue from operations surged by 116% YoY, with the orderbook of 26.5 GW valued at ₹50,000 crore.

Amit Paithankar, Whole Time Director and CEO at Waaree Energies, “As an energy transition company, we see immense opportunities and are well positioned to tap into new business areas. Our solar business continues to be strong and we are rapidly advancing in the adjacencies of energy storage systems, green hydrogen, inverters and renewable infrastructure. The momentum in this space is stronger than ever, and we are well-positioned to capitalise on it.”

Shares of Waaree Energies Ltd ended at ₹ 2,235.05, up 1.25%.