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27 October
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Waaree Renewable Q2 profit surges 124.18% YoY

admin   |   Uncategorized

Waaree Renewable Technologies has reported a revenue of INR 150.06 crore (around $18 million) and a net profit (profit after tax) of INR 18.29 crore for the quarter ending Sept. 30.

Waaree Renewable Technologies has reported its unaudited financial results for the quarter ended September 30, 2023 (Q2 FY 2024). The company’s revenue for Q2 FY 2024 stood at INR 150.06 crore, 24.47% up year-on-year (YoY) from INR 120.56 crore in the corresponding period of the previous fiscal year. Net profit (profit after tax) at INR 18.29 crore grew 124.18% YoY.

Revenue for H1 FY 2024 was INR 279 crore, a 29.41% growth YoY.

The unexecuted order book stood at over 897 MW as of September 30, 2023. These projects will be executed in the next 9-12 months.

Waaree Renewables Technology is a solar EPC arm of the Waaree Group that has installed 10,000+ solar projects with a cumulative capacity of over 1.2 GW. The company also finances and develops projects on a build-own-operate basis.