Waaree Renewable Technologies Ltd. posted a strong set of first-quarter earnings, with consolidated net profit climbing 34.1% year-on-year, driven by a sharp rise in revenue as the company benefited from robust execution of renewable energy projects.
The company's consolidated net profit increased to Rs 116 crore during the quarter, compared with Rs 86.4 crore in the corresponding period last year.
Revenue from operations surged 53.2% to Rs 924 crore, up from Rs 603 crore a year earlier, reflecting healthy execution across its engineering, procurement and construction (EPC) business and a strong order pipeline.
Operating performance also remained resilient. Earnings before interest, tax, depreciation and amortisation (EBITDA) climbed 47.6% year-on-year to Rs 174 crore, compared with Rs 118 crore in the year-ago period.
Despite the sharp rise in earnings, the company's operating profitability moderated slightly.
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EBITDA margin narrowed to 18.8% from 19.5% in the corresponding quarter last year, indicating a modest increase in input costs and execution-related expenses even as revenue expanded at a strong pace.
The quarterly numbers reflect Waaree Renewable Technologies' ability to capitalise on India's accelerating clean energy transition, with higher project execution driving both revenue and profit growth.
While the slight compression in margins suggests cost pressures, the company continued to deliver healthy operating leverage and maintained double-digit profitability.
The results come at a time when India's renewable energy sector is witnessing robust policy support, rising investments and an expanding pipeline of solar and hybrid power projects.
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