Waaree Technologies' Financial Turnaround and Leadership Continuity

Waaree Technologies reported a narrowed net loss of Rs 3.03 crore for the March quarter, down from Rs 5.50 crore the previous year. Despite a decrease in total income to Rs 4.81 crore, the company reduced expenses significantly. Kirit Chimanlal Doshi was re-appointed as Chairman and Managing Director.

Waaree Technologies announced a reduced net loss of Rs 3.03 crore for the March quarter, a significant improvement from last year's Rs 5.50 crore deficit. This financial recovery comes despite a notable decline in the company's total income, which fell to Rs 4.81 crore from Rs 15.18 crore in the same quarter the previous year.

The company achieved this financial feat by significantly trimming its expenditures to Rs 8.89 crore, a substantial decrease from the Rs 22.41 crore reported in FY25. This strategic cost-cutting has been pivotal in narrowing the net loss, showing a disciplined financial approach by the management.

The board has also secured leadership stability by reappointing Kirit Chimanlal Doshi as Chairman and Managing Director for another three-year term, starting May 14, 2025, pending shareholder approval. Waaree Technologies remains aligned with the Waaree Group's focus on solar, instrumentation, and energy storage sectors.

(With inputs from agencies.)