Waaree Renewable reports improved revenue, profit in first quarter


Waaree Renewable Technologies, the solar EPC arm of Waaree Group, reported a 36% year-on-year increase in revenue to INR 129 crore in the first quarter of fiscal 2023-24. Profit after tax grew 12% y-o-y to INR 11.1 crore.

Waaree Renewable Technologies executed over 96 MW of EPC projects in Q1 FY2024. The unexecuted order book to be executed in the next 9 to 12 months stood at 856 MW as on June 30, 2023.

The company recently won two solar power projects in Gujarat, 100 MWp at Jamnagar and 36 MWp at Amreli.

Waaree Renewable Technologies also finances, constructs, owns, and operates solar projects. It provides clean energy to its clients by setting up both on-site (rooftop and ground-mounted) and off-site (open access) solar projects.

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