Waaree Energies’ Q3 net profit quadruples to ₹493 Crore

31 Jan 2025 , 11:07 AM

On Thursday, January 30, Waaree Energies announced its quarter three results. The company stated that its net profit registered four-fold growth to ₹493 Crore against ₹124.50 Crore in the previous corresponding quarter.
The company’s revenue for the quarter registered an increase of 116% y-o-y to ₹3,457 Crore as compared to ₹1,596 Crore in the previous corresponding quarter.
The company also stated that its orderbook of 26.5 MW stands tall at ₹50,000 Crore as on date.
Amit Paithankar, Whole Time Director and CEO at Waaree Energies, stated that they see immense opportunities as an energy transition company, and it is well poised to tap into new business spectrums. Its solar business remains robust and the company is rapidly advancing in the adjacencies of energy storage systems.
The US accounted for 15-20% of their revenue mix. As the company grows globally, it strengthens its presence in high-potential countries to keep ahead of the competition in this rapidly changing market.
Waaree Energies is an Indian solar PV module manufacturer having a total installed capacity of 12 GW. Its solar energy product portfolio consists of PV modules such as multicrystalline, monocrystalline, and TopCon modules.
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