Waaree Energies Soars with 93% Profit Surge in Q1
Waaree Energies reported a 93% jump in net profit to Rs 773 crore for the June quarter, fuelled by increased revenues. The company achieved a record production of 2.3 GW modules, and plans a significant expansion in cell and ingot-wafer capacity. The expansion will cost Rs 2,754 crore and extend into FY 2026-27.
- Country:
- India
Waaree Energies experienced a substantial surge in profitability, reporting a 93% increase in net profit to Rs 773 crore for the first quarter, compared to Rs 401.13 crore in the same period last year. This significant growth is attributed primarily to enhanced revenue streams.
The company's revenues rose sharply to Rs 4,597.18 crore from Rs 3,496.41 crore a year ago, buoyed by strong operational focus and heightened module production, reaching a record of 2.3 GW. The Board has approved a Rs 2,754 crore capital investment to expand production capacities in Gujarat and Maharashtra, supported by internal and external financing sources.
The acquisition of Voltshift Energy Transition Private Limited further demonstrates Waaree's strategic moves within the energy sector. With a robust order book and a solid financial outlook, Waaree is poised for continued growth in the solar energy market, both domestically and internationally.
(With inputs from agencies.)
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