Waaree Energies shares climb 4% after arm receives LoA for 170 MW solar plant
Waaree Energies shares rallied 4% to Rs 3,303 in Thursday's intraday trade on the BSE after the company’s arm, Waaree Forever Energies, received a Letter of Award (LoA) for the development of a 170 MW solar power plant in Madhya Pradesh.
«Waaree Forever Energies Private Limited, a wholly owned subsidiary of the company, has today received a Letter of Award (LoA) for the development of a 170 MW solar power plant in Madhya Pradesh from Rewa Ultra Mega Solar Limited (RUMSL),» the company said in an exchange filing.
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«The solar power plant will enable the generation and transmission of clean energy via the Inter-State Transmission System (ISTS). The project will supply renewable energy to Madhya Pradesh Power Management Company Ltd and Indian Railways, thus contributing significantly to India’s renewable energy goals,» it added.
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In Q2 FY25, the company reported a 14.77% increase in consolidated net profit to Rs 361.65 crore, compared to Rs 315.09 crore in Q2 FY24. Revenue from operations rose 1.04% year-on-year (YoY) to Rs 3,574.38 crore for the quarter ending 30 September 2024.
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