Waaree Renewable Technologies’ consolidated profit after tax for Q3 FY25 decreased 16.71% yearly to ₹53.48 crore from ₹64.23 crore. Despite a sequential decline of 31.29%, revenue from operations climbed by 11% to ₹360.34 crore. Re 1 per share was announced as the interim dividend.
Waaree Renewable Q3 Results: Profit Drops 17% YoY to ₹53 Crore
On Thursday, January 16, Waaree Renewable Technologies said that its consolidated profit after tax (PAT) for the third quarter of fiscal year 2024–2025 (Q3 FY25) had decreased 16.71% year over year (YoY) to ₹53.48 crore. It came to ₹64.23 crore in the same quarter of the previous fiscal year. Additionally, PAT was somewhat less than the ₹53.51 crore reported in Q2 FY25 on a quarter-over-quarter basis.
On a year-over-year basis, its consolidated revenue from operations rose 11% to ₹360.34 crore from ₹324.19 crore. Sequentially, the topline dropped from ₹524.46 crore by 31.29%.
In Q3 FY25, earnings before interest, tax, depreciation, and amortization (EBITDA) were ₹71.92 crore, down 18.09% from Q3 FY24’s ₹87.81 crore.
According to the company’s results report, the EPC sector performed very well, generating customer revenue of ₹1,093.99 crores for a volume of 1,024.92 MWp as opposed to ₹580.80 crores for a volume of 473.44 MWp.
The company’s PAT increased 43.94% year over year to ₹135.16 crore during the nine months that ended in December 2024, while sales increased 85.87% year over year to ₹1,121.17 crore.
Furthermore, Waaree Renewable Technologies said that an interim dividend of Re 1 per share would be paid to each equity share having a face value of ₹2. The business set January 24 as the record date to ascertain whether stockholders can receive dividends.
The company stated in an exchange filing today that the interim dividend is payable to members whose names are listed in the Company’s Register of Members or who will be listed as beneficial owners (based on information provided by the Depositories) at the close of business on January 24, 2025, which is the “Record Date” to determine whether members are eligible to receive the said interim dividend.
Shares of Waaree Renewable Technologies fell precipitously after the results report. On the BSE, the stock ended the day 6.04% down at ₹1,076.75 a share.
