The share price of Waaree Energies rose 14% to an intra-day high of Rs 2,505.50 on the National Stock Exchange as net profit jumped multifold in Q3 FY25. The company reported a net profit of Rs 492.7 crore in the third quarter of FY25.
This is an increase of 296% year-on-year. In the correspondent quarter of the previous fiscal year, the company posted a net profit of Rs 124.5 crore. Waaree Energies’ revenue surged more than 115% to Rs 3,457.28 crore in Q3 FY25 compared to Rs 1,596.183 crore in the correspondent quarter a year ago. Also, the company’s orderbook stood at 26.5 GW. This was valued at around Rs 50,000 crore as of January 30.
Waaree Energies in Q2
In Q2 FY25, the company announced a consolidated revenue at Rs 3,574 crore, almost flat YoY, against Rs 3,537 crore in Q2 FY24. Its net profit or PAT rose 17% YoY to Rs 376 crore on account of other income. The company reported other income of Rs 89.09 crore in Q2 FY25 against Rs 21.25 crore in Q2 FY24
Waaree Energies Vs Nifty 50
The stock price of Waaree Energies has risen 12% in the past five trading sessions. It has fallen 16.5% in the past one month. It has risen 2% since its listing on the bourses. To compare, the benchmark index, Nifty 50 has risen 2% in the last five trading sessions. It has fallen by 1% in the past one month.
The company was listed on the exchanges on October 28, 2024. Shares made a debut at a premium of more than 66% on the NSE at Rs 2,500 to the issue price of Rs 1,503. The company raised Rs 4,321.44 crore from the primary markets. It was opened for bidding from October 21 to October 23, with a price band set between Rs 1,427 – Rs 1,503 per equity share.
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