Waaree Energies Shines with Record Profits Amid Renewable Expansion
Waaree Energies reported a significant rise in profits for Q4 2024, with net income soaring to Rs 5,068.76 crore due to increased revenues. The company attributes its success to strong solar business and expansion into energy storage, green hydrogen, and renewable infrastructure, with significant investments underway.
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- India
Waaree Energies has achieved a remarkable increase in consolidated net profit, soaring to Rs 5,068.76 crore for the December 2024 quarter, as highlighted in their latest earnings report. This significant boost in profitability comes as the company continues to experience a surge in income.
Comparatively, Waaree had posted a net profit of just Rs 1,408.05 crore during the same period last year. The company's total income surged to Rs 35,452.65 crore, driven by the expansion of its solar business and strategic investments in adjacent segments such as energy storage and green hydrogen.
In response to this success, Waaree's CEO Amit Paithankar expressed optimism about the future, citing the strengthening momentum in renewable infrastructure. The company's recent ventures, including a 1.6 GW solar module line in Texas, underline its commitment to growth.
(With inputs from agencies.)
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