Waaree Renewable Tech posts 18.29-cr net profit in Q2 – EQ

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In Short : Waaree Renewable Technologies, one of India’s leading solar energy solutions companies, reported a net profit of ₹18.29 crore in the second quarter of the fiscal year. The company’s financial performance demonstrates its strong position in the renewable energy sector. Waaree Renewable Technologies is actively involved in solar power projects, solar module manufacturing, and providing solar energy solutions to clients across various industries. Its positive financial results reflect the growing demand for clean energy solutions and the company’s ability to meet market needs efficiently.

In Detail : Waaree Renewable Technologies posted over 124.18 per cent rise in consolidated net profit to Rs 18.29 crore in the September quarter on the back of higher revenues.

The consolidated net profit of the company stood at Rs 8.16 crore in the year-ago period, the company said in a statement on Thursday.

Revenue from operations increased to Rs 150.06 crore in the second quarter of the ongoing fiscal from Rs 120.56 crore in the same period a year ago.

The unexecuted order book stands at 897 MW as of September 30, it said.

“Our strong financial footing, characterised by a healthy balance sheet, net cash reserves, and a disciplined working capital cycle, empowers us to execute profitable projects with higher returns,” Waaree Renewable Technologies CFO Dilip Panjwani said in the statement.