Waaree Renewable Q3 Results: Profit dips 16% YoY to Rs 53.50 crore, declares interim dividend
Waaree Renewable Technologies, a leading provider of EPC solutions, on Thursday reported a 16.7% year-on-year (YoY) decline in its net profit to Rs 53.50 crore for the third quarter ending December 2024. The company also declared an interim dividend of Re 1 per share for its shareholders.
During the quarter, the company’s net profit attributable fell to Rs 53.50 crore, compared to a profit of Rs 64.25 crore in the previous corresponding quarter last year. Meanwhile, the total income for the quarter saw an increase of 12.4% to Rs 364.12 crore, compared with Rs 324.67 crore in the corresponding quarter of the previous year.
The company has fixed January 24 as the record date for its interim dividend, marking the date when the dividend entitlement will be finalized and the stock price adjusted accordingly.
Shares of the EPC solutions provider were trading 7.2% lower on Thursday to Rs 1,063.90 on the BSE following the results announcement.
Despite recent declines, the company’s stock has delivered remarkable long-term returns. The company’s shares have appreciated over 113% in the past year and soared by more than 1,380% over the past three years. However, the stock has faced significant pressure in recent months, falling 45.75% in the last six months and 17.71% in the past week alone.
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