The renewable energy EPC and operations and maintenance (O&M) player reported a sharp jump in revenue, which more than doubled to ₹1,102.4 crore from ₹476.6 crore in the year-ago quarter.
Operating performance also improved, with EBITDA rising 63.7% YoY to ₹206.8 crore, compared to ₹126.3 crore a year earlier. However, margins came under pressure, declining to 18.8% from 26.5%, largely due to a sharp increase in EPC contract costs, which rose to ₹871 crore from ₹335 crore.
Net profit grew 66.1% YoY to ₹155.7 crore, up from ₹93.8 crore in the corresponding quarter last year.
The company reported a healthy order book of 2.83 gigawatt-peak (GWp), along with a strong bidding pipeline exceeding 36 GWp.
Waaree Renewable Technologies has a market capitalisation of around ₹11,050 crore and no institutional shareholding.
Shares of the company ended 2.36% higher at ₹1,064 on Thursday and are up about 10% so far this year.
