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Waaree Renewable Technologies has reported its consolidated net profit for the September quarter to have more than doubled to ₹116.34 crore on the back of higher revenues.

The company had logged a consolidated net profit of ₹53.51 crore in the quarter ended September 30, 2024, a BSE filing said.

As a subsidiary of Waaree Energies Ltd, Waaree Renewable finances, constructs, owns, and operates solar projects across geographies for commercial and industrial customers, supporting India’s transition to sustainable energy.

 

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The company attributed its highest-ever quarterly revenue and PAT (net profit), to robust execution, strong sectoral tailwinds, and continued expansion into new energy verticals including Battery Energy Storage Systems and data centres, according to a company statement.

The revenue stood at ₹774.78 crore as against ₹524.47 crore in Q2 FY25, delivering a growth of 47.73 per cent.

The company’s unexecuted order book stands at 3.48 GWp, to be executed over the next 12–15 months, while its bidding pipeline remains robust at 27+ GWp, it stated.

Further, the board on Friday approved capex budget for setting up 28 MWp IPP solar power plants (14 MWp each) at two locations in Maharashtra and a capex budget for 37.5 MWp IPP solar power plant at Bikaner, Rajasthan.