Waaree Energies Q3 net profit jump 295% YoY to ₹492 crore; check key highlights

Waaree Energies Q3 net profit and revenue sees triple-digit growth

The company’s consolidated profit after tax for Q3FY25 increased more than 3 times to ₹492.68 crore, up 295.66% compared to ₹124.5 crore in the year-ago quarter. Its revenue more than doubled to ₹3,457.28 crore in the December 2024 quarter, marking a 116% growth YoY against ₹1,596 crore in the same quarter of the preceding fiscal, the company said in a stock exchange filing after market hours on Thursday.

On the operating front, its EBITDA (earnings before interest, taxes, depreciation and amortisation) increased 256.97% YoY to ₹809.7 crore in Q3FY25 compared to ₹226.82 crore in Q3FY24.

Significant improvement in margins

The green energy firm also saw a significant margin improvement, with the PAT margin increasing to 14.3% in the December quarter of FY25 against 8.52% in the year-ago period. EBITDA margin also advanced to 22.84% compared to 13.73% in Q3FY24.

Capacity expansion

The company’s orderbook stood at 26.5 GW, valued at ₹50,000 crore as of January 30, 2025, the stock exchange filing mentioned. Waaree Energies also commenced trial production at a 5.4 GW solar cell manufacturing facility and launched commercial production at a 1.6 GW solar module line in the United States.

Waaree Energies also reported production of 1.81 GW of energy in Q3FY25, reflecting 68% YoY growth.

The leading solar energy player is also planning a rapid expansion into new areas. The company’s Board has also approved capital expenditure of ₹2,752 crore for three different projects: setting up a 300 MW Electrolyser manufacturing plant, a 3.5 GWh Lithium-Ion Advanced Chemistry Storage Cell manufacturing unit, and expanding the inverter business.

“We see immense opportunities and are well-positioned to tap into new business areas. Our solar business continues to be strong and we are rapidly advancing in the adjacencies of energy storage systems, green hydrogen, inverters and renewable infrastructure,”said Amit Paithankar, Whole Time Director & CEO, Waaree Energies Ltd.

Waaree Energies share price

Waaree Energies shares closed 1.25% higher at ₹2,235.05 apiece on the NSE, extending gains for the second straight day. The newly listed stock is trading 10.6% lower from its debut price on the NSE. However, it has given returns of 48.7% to IPO investors so far.

Waaree Energies shares were listed on the NSE at a premium of 66.33% at ₹2,500 apiece compared to the issue price of ₹1,503 per share.