Waaree Renewable News, Corporate filings and Earnings/Conference Calls

Electric Utilities company Waaree Renewable Technologies announced H1FY25 & Q2FY25 results Revenue for Q2FY25 stood at Rs 524.47 crore representing a growth of 249.50% YoY as compared to Rs 150.06 crore in Q2FY24. EBITDA for Q2FY25 stood at Rs 71.57 crore as compared to Rs 30.68 crore in Q2FY24 representing a growth of 133.27% YoY. Revenue for the H1FY25 stood at Rs 760.82 crore as against Revenue of Rs 279.00 crore in the comparative period during H1FY24 representing growth of 172.70% YoY. EBITDA for the H1FY25 grew by 155.56% from Rs 44.08 crore in H1FY24 to Rs 112.65 crore. The EPC segment delivered exceptional performance, achieving customer billing of Rs 583.36 crore for a volume of 528.56 MWp, compared to Rs 141.09 crore for a volume of 169.59 MWp. Dilip Panjwani, CFO, Waaree Renewable Technologies Limited said: “We are pleased to announce the highest-ever quarterly revenue in the company’s history at Rs 524.47 crore with a volume of 528.56 MWp which reflects robust execution capabilities built on the strength of highly scalable platform. WRTL continues to invest strongly in technology reflecting in the successful execution of complex projects in Floating Solar and Battery Energy Storage Systems. India’s dedication to reducing carbon intensity, achieving 50% renewable energy by 2030, and reaching net-zero emissions by 2070 is evident. As of August 2024, RE installations have expanded nearly fivefold to approximately 200 GW from around 63 GW in March 2012. This impressive growth has been primarily driven by solar power which surged to approximately 89 GW in August 2024. This growth highlights India’s critical role in the global renewable energy landscape, with robust government policies prioritizing solar energy in the nation’s energy transition. With continued technological advancements and policy support, we are well-positioned to capitalize on these opportunities. Our strong order book and healthy balance sheet empower us to deliver lasting value to our stakeholders while advancing in global sustainability.” Result PDF

33.90% Fall from 52W High

Waaree Renewable News, Corporate filings and Earnings/Conference Calls

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