Waaree Renewable Technologies's shares soar 14% on record quarterly profits
Waaree Renewable Technologies just saw its shares jump 13.6% to a record ₹1,287 on Monday, following their best-ever July-September quarter.
The company's profits and revenue soared, lifting its market value above ₹13,000 crore.
The numbers behind Waaree's best-ever quarter
Waaree's net profit more than doubled this quarter to ₹116.3 crore compared to last year, while revenue shot up nearly 48% to ₹774.8 crore.
Their operating margins improved too, showing the company is running more efficiently.
The company also reported a growing presence in fast-growing areas like battery storage and data centers.
New orders and investments keep Waaree busy
A packed order book (3.48 GWp unexecuted) and a huge bidding pipeline are keeping Waaree busy.
They landed new solar orders worth 1.25 GWp this quarter and greenlit fresh investments for solar projects in Maharashtra and Rajasthan.