Waaree Renewables Q1: Net profit jumps 205%, revenue grows to ₹603 crore; check all details

The company posted a net profit of ₹86 crore for the April to June quarter of FY25, registering a whopping 205.3% jump from ₹28.3 crore in the same quarter of the previous fiscal year.

Waaree Renewables’ revenue from operations grew 155.2% year-on-year (YoY) to ₹603 crore in the reporting quarter in contrast to ₹236 crore in Q1 FY25.

Its operating profit, or earnings before interest, tax, depreciation, and amortisation (EBITDA), for Q1 FY26 increased 186% to ₹118 crore as against ₹41 crore in the corresponding quarter last year. The margin expanded to 19.5% YoY from 17.3% in Q1 FY25.

During the quarter, the renewable energy company has secured two orders, which include 435 MWp and 131.6 MWp ground-mounted solar power projects.

In Q1FY26, revenue from EPC contracts stood at ₹594.39 crore, while the power sale segment contributed ₹8.78 crore. This hybrid revenue model is delivering consistent, predictable cash flows and fuelling sustainable growth.

Following the earnings, shares of the firm were seen trading lower. Waaree Renewables settled at ₹1,176.90 apiece on Thursday, declining 2.13% on the National Stock Exchange.

Commenting on the earnings, the firm’s CFO, Manmohan Sharma, said, “We are pleased to report revenue of ₹603.19 crores for Q1 FY26, compared to ₹236.35 crores in Q1 FY25, delivering a robust growth of 155.20%. This performance reflects the strength of our business model, our disciplined operational approach, and our ability to execute large-scale projects efficiently in a rapidly evolving clean energy landscape.”

“We remain resilient, future-ready, and committed to enabling India’s energy transition through high-quality, sustainable solutions. With innovation and sustainability at the heart of our operations, we are confident in our ability to generate long-term value for all stakeholders,” he further added.

Waaree Renewable Technologies Limited, the EPC arm of the Waaree Group, stands among the leading players in the solar EPC space. The company has further expanded into Battery Energy Storage Systems (BESS) and data centres.