Waaree Energies Q3 Results: Cons PAT shoots up 296% YoY to Rs 493 crore, revenue jumps 117%

Waaree Energies on Thursday reported a 296% year-on-year growth in its consolidated net profit for the quarter ended December 31, 2024, to Rs 493 crore versus Rs 124 crore posted in the year-ago period.

The Q3FY25 revenue from operations stood at Rs 3,457 crore, up by 117% over Rs 1,596 in the corresponding quarter of the previous financial year.

On a sequential basis, the profit after tax (PAT) grew 36% over Rs 362 crore posted in Q2FY25 while the revenue fell 3.2% over Rs 3,574 crore reported in the July-September quarter of FY25.


The profits are attributable to the shareholders of the company.

The earnings were announced minutes before the market closing time and the shares of Waaree Energies ended the session at Rs 2,225.95 on the NSE, up by Rs 18.40 or 0.83%.

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The YoY PAT jumped despite the company reporting higher expenses at Rs 2,855 crore in Q3FY25 versus Rs 1,517 crore incurred in Q3FY24. However, expenses were down on a sequential basis against Rs 3,165 crore in the July-September quarter.

The company reported a 257% YoY growth in its Q3FY25 earnings before interest, taxes, depreciation and amortisation (EBITDA) while its order book of 26.5 GW was valued at Rs 50,000 crore as of December 31, 2024.

The EBITDA margin in the reported quarter stood at 22.84% versus 13.73% in Q3FY24.

The trial production commenced at 5.4 GW solar cell manufacturing facility while 1.6 GW Solar module line in the USA commenced its commercial production, the company filing said.

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Commenting on the results, Amit Paithankar, Whole Time Director & CEO at Waaree Energies said the company sees immense opportunities in energy transition and is well positioned to tap into new business areas. “Our solar business continues to be strong and we are rapidly advancing in the adjacencies of energy storage systems, green hydrogen, inverters and renewable infrastructure. The momentum in this space is stronger than

ever, and we are well-positioned to capitalise on it," Paithankar said.

“The US contributed ~15-20% of our revenue mix. As we expand globally, we are strengthening our presence in high-potential regions, ensuring that we stay ahead of the curve in this fast-evolving industry. We are excited about the road ahead and remain committed to driving meaningful change in the energy landscape," Paithankar said.