Waaree Renewable Technologies Ltd Sees Profits Soar Amid Robust Growth

Waaree Renewable Technologies Ltd more than doubled its net profit to Rs 120.19 crore in the December quarter, buoyed by increased revenues. The company's revenue grew by 136.18% year-on-year, with an unexecuted order book of 2.92 GWp. It plans to expand with a 120 MWp Solar Power Park in Maharashtra.

Waaree Renewable Technologies Ltd (WRTL) has reported a significant surge in profits, more than doubling to Rs 120.19 crore for the December quarter. This remarkable growth is attributed to the company's strong revenue performance, which soared to Rs 851.06 crore, marking a year-on-year increase of 136.18%.

The company revealed a substantial unexecuted order book of 2.92 GWp, set to be completed within 12-15 months. Additionally, WRTL's bidding pipeline appears robust, indicating a positive outlook for the future. The board has sanctioned a capital expenditure budget to establish a 120 MWp Solar Power Park in Buldhana, Maharashtra.

As a key player in the Solar EPC business, Waaree Renewable Technologies is committed to innovation and strategic partnerships. Headquartered in Mumbai, it operates on a global scale, focusing on long-term investments in the commercial and industrial sectors, thus fortifying its position in the renewable energy market.

(With inputs from agencies.)