The solar PV maker reported a 15% rise in its second quarter net profit at Rs 362 crore against Rs 315 crore in Q2 of the previous fiscal. Shares of Waaree Energies Ltd are in news today after the firm reported its Q2 earnings. The solar PV maker reported a 15% rise in its second quarter net profit at Rs 362 crore against Rs 315 crore in Q2 of the previous fiscal. Revenue from operations in Q2 rose 1% year-on-year (YoY) to Rs 3,574 crore against Rs 3537.2 crore a year ago.
Other income in the last quarter more than doubled YoY to Rs 89 crore. Total expenses in the September 2024 quarter came flat at Rs 3165 crore.
On Monday, the stock closed 6.81% higher at Rs 3115 against the previous close of Rs 2916.60. On an intra day basis, the stock climbed to Rs 3185.90 on BSE. Market cap of the firm rose to Rs 89,503 crore. The market cap of the firm stood at Rs 89,503 crore mark.
Total 2.77 lakh shares of the firm changed hands amounting to a turnover of Rs 85.09 crore on BSE.
The initial public offering (IPO) of Waaree Energies was open from October 21 to October 23. The Mumbai-based firm garnered Rs 4,321.44 crore from its IPO, which included a fresh share sale of Rs 3,600 crore and offer-for-sale (OFS) of up to 48 lakh equity shares.
Axis Capital, Jefferies India, IIFL Securities, Nomura Financial Advisory & Securities (India), SBI Capital Markets, Intensive Fiscal Services and ITI Capital were the book-running lead managers of the IPO, while Link Intime India served as the registrar.
Waaree Energies is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW. Its product portfolio includes solar energy products consisting of the PV modules such as multicrystalline modules; Monocrystalline modules; and TopCon modules.