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Waaree Energies reported a 15.39 per cent year-on-year increase in its consolidated net profit for the first quarter of FY27, supported by a sharp rise in revenue and higher production. The company also recorded strong order inflows during the quarter, taking its total order book to a record INR 61,500 crore. Along with continued growth in its core solar manufacturing business, Waaree said its newer business segments have started contributing to revenue, strengthening its growth outlook across domestic and international markets.
Waaree Energies posted a 15.39 per cent year-on-year increase in its consolidated net profit to INR 891.87 crore during the first quarter of FY27, driven by higher revenue and improved operational performance.
The company had reported a consolidated net profit of INR 772.89 crore in the corresponding quarter of the previous financial year.
Revenue from operations rose significantly to INR 7,931.79 crore in the April-June quarter of FY27, compared with INR 4,425.83 crore recorded during the same period a year earlier. The strong growth reflects increased business activity and continued demand for the company's solar products in both Indian and overseas markets.
Commenting on the quarterly performance, Whole Time Director and Chief Executive Officer Jignesh Rathod said the company delivered another quarter of strong operational and financial performance. He stated that the results reflected the strength of Waaree's integrated business model, disciplined execution and sustained demand across domestic as well as international markets.
Rathod further said the company has achieved its highest-ever order book of around INR 61,500 crore. He added that while the core solar manufacturing business continues to perform well, the company's newer business segments have also started making a meaningful contribution to overall revenue, creating additional growth opportunities.
During the quarter, Waaree Energies manufactured 3.24 GW of solar modules, registering a 41.51 per cent year-on-year increase in production. The company also secured fresh orders worth INR 16,000 crore, helping expand its total order book to the record level.
Waaree Energies has been expanding its manufacturing capacity in recent years to cater to rising domestic demand, government-led renewable energy initiatives and growing export opportunities. The company has also been strengthening its presence across the solar value chain as India continues to push towards achieving its clean energy and renewable power capacity targets.
Established in 1990, Waaree Energies is one of India's leading renewable energy companies and is engaged in solar photovoltaic module manufacturing along with other clean energy businesses.
Source PTI
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