Waaree Energies Q3 results: Net earnings grows multifold to Rs 506.8 crore
Waaree Energies on thursday said a multifold upward thrust in consolidated net earnings to Rs 506.8 crore for the december 2024 zone, helped by way of higher income. It had posted a Rs a hundred and forty.eight crore net profit within the yr-in the past region, the company said in an trade submitting. The enterprise's general income rose to Rs three,545.2 crore from Rs 1,651.7 crore inside the October-December length of 2023-24. Its fees stood at Rs 2,855.four crore in opposition to Rs 1,517.3 crore a 12 months ago. In a media statement, the organisation's whole Time director and CEO amit Paithankar said, "Our solar business is still robust, and we're rapidly advancing inside the adjacencies of strength garage systems, inexperienced hydrogen, inverters and renewable infrastructure".
The momentum on this area is more potent than ever, and the corporation is properly-placed to capitalise on it, the assertion said.
The US contributed 15-20 consistent with cent of the employer's revenue mix, Paithankar said. In January, the employer, through its US-primarily based subsidiary Waaree solar Americas Inc, started out commercial manufacturing of a 1.6 GW sun Module line at Brookshire in Texas.At some point of the region, the board of the company permitted a capital expenditure amounting to Rs 2073 crores and an investment of Rs 650 crore for putting in place a 3.5 gwh (gigawatt hour) lithium-ion superior chemistry storage cell manufacturing plant.
Waaree Energies is one in every of India's predominant players inside the solar energy enterprise.
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