Waaree Energies Q2 PAT jumps 15% YoY to Rs 362 cr in FY25

Revenue from operations rose 1.04% year on year (YoY) to Rs 3,574.38 crore in the quarter ended 30 September 2024.

As compared to Q1 FY25, the company's net profit decreased by 8.24% while revenue increased by 4.85% in Q2 FY25.

Profit before tax stood at Rs 498.84 crore in the quarter ended 30 September 2024, up 14.77% as against Rs 434.64 crore recorded in Q2 FY24.

The company's EBITDA jumped by 14.01% to Rs 613.93 crore in Q2 FY25 from Rs 538.50 crore recorded in same quarter last year. EBITDA margin improved to 16.76% in Q2 FY25 as against 15.13% recorded in Q2 FY24.

On half-year basis, the company's consolidated net profit rose 16.07% to Rs 755.79 crore on 1.71% increase in revenue to Rs 6,983.28 crore in H1 FY25 over H1 FY24.

As of 30 September 2024, the company's order book stands at an impressive approximately 20 GW.

Meanwhile, the company's board has approved an investment up to Rs 600 crore for setting up and development of infrastructure (including land and connectivity) for the purpose of developing Renewable Power projects and bidding pipeline.

Waaree Energies is the largest manufacturer of solar PV modules in India with the largest aggregate installed capacity of 12 GW. Presently, it is engaged in manufacture of Solar Photo-voltaic Modules, setting up of Projects in solar space and sale of electricity. The company operated five manufacturing facilities in India spread over an area of 143.01 acres. It operate one factory each located at Surat, Tumb; Nandigram, Chikhli in Gujarat, India and the IndoSolar Facility, in Noida, Uttar Pradesh.

The scrip slipped 3.48% to Rs 3,007 on the BSE.