Waaree Energies Q2 Results: Profit Rises 17%
Waaree Energies' revenue rose marginally by 1% to Rs 3,754.38 crore in the quarter ended September.
Waaree Energies Ltd.'s net profit saw a 17% uptick in the second quarter of fiscal 2025.
The solar module manufacturer's consolidated net profit rose to Rs 375.66 crore in the quarter ended September, compared to Rs 320.12 crore during the same period a year ago, according to an exchange filing on Monday.
Despite flat revenue growth, the company's profits saw an uptick in profits due to Rs 17.27 crore in deferred tax expenses that lowered the total taxes payable by the company.
Waaree Energies Q2FY25 Highlights (Consolidated, YoY)
Revenue up 1% at Rs 3,754.38 crore versus Rs 3,537.3 crore.
Ebitda up 1.5% at Rs 524.85 crore versus Rs 517.26 crore.
Margin at 14.7% versus 14.6%.
Net profit up 17% at Rs 375.66 crore vs Rs 320.12 crore.
What Impacted Earnings?
Revenues of the company remained flat since the revenues of the solar PV module segment saw a 10% annual drop. This segment accounts for around 85% of the company's total earnings. The business did see some relief from the EPC contract segment, where revenues saw almost a 3x increase. However, it is to be noted that this segment only accounts for around 14% of Waaree Energies' total revenues.
Waaree Energies' Q2 margins remain flat since the uptick in stock in trade purchases, EPC project expenses, and sales admin expenses offset the downtick in the cost of materials consumed and inventory changes.
Order Book
The company's order book as on Sept. 30 stands at 20 GW. The company produced 3.3 GW in H1FY25 compared to 4.8 GW in FY24.
