Nifty 50 Defies Trends, Moves in Sync with Volatility Index for Days
Waaree Energies Q3 Earnings: Net Profit Soars 260% YoY

Waaree Energies Limited announced its financial results for the October-December quarter on Thursday, January 30, 2025. The company posted an impressive 260% year-on-year (YoY) growth in net profit, reaching ₹507 crore in the third quarter, compared to ₹141 crore in the same period last year, according to its consolidated financial statements.
At 09.50 am IST, the Waaree Energies share price were trading at ₹2,385 on the NSE. The surge in the counter was accompanied by a sharp uptick in trading volumes.
This exceptional growth was driven by strong demand for solar photovoltaic (PV) modules, an increase in production capacity, and a robust order book amid the global transition toward renewable energy.
Following the results announcement, Waaree Energies Ltd's stock closed at ₹2,190.65, marking a 0.82% decline from its previous close of ₹2,208.70 on the Bombay Stock Exchange (BSE). The company released its Q3 results after market hours on January 30, which means the full impact on investor sentiment could be reflected in the next trading session.
Over the past few months, Waaree Energies' stock has experienced significant fluctuations. It hit a 52-week high of ₹3,740.75 on November 6, 2024, amid strong investor confidence and growing demand for solar energy solutions. However, it also reached a 52-week low of ₹2,030 on January 1, 2025, highlighting volatility in the renewable energy sector.
As of January 30, 2025, the company's market capitalisation stood at ₹62,933.69 crore, reinforcing its position as a major player in the Indian solar energy industry.
Waaree Energies reported a 117% jump in revenue from operations, reaching ₹3,458 crore in the October-December quarter of FY 2024-25, compared to ₹1,596 crore in the same quarter a year ago.
However, the company also saw a sharp rise in expenses. Total expenses increased by 88%, rising to ₹2,855 crore from ₹1,517 crore in the previous financial year's Q3. This rise was attributed to the higher cost of raw materials, supply chain disruptions, and increased investor costs. Despite these higher expenses, the company's ability to scale production and expand its market presence led to significant gains in profitability.
A major contributor to Waaree Energies' revenue growth was its solar photovoltaic (PV) module segment, which posted a 122% YoY surge in revenue. This segment alone generated ₹3,108 crore in Q3, compared to ₹1,402 crore a year earlier. The company's stronghold in the solar module manufacturing sector has positioned it as one of the leading suppliers in India, benefiting from government incentives and increasing adoption of renewable energy.
The Indian government's pro-renewable energy policies, including the Production-Linked Incentive (PLI) scheme for solar manufacturing, have played a crucial role in boosting the domestic solar industry. Waaree Energies, being one of the largest domestic manufacturers, has capitalized on these incentives to expand its production capabilities.
The global shift toward clean energy and sustainability continues to provide strong growth opportunities for solar energy companies. Waaree Energies is expected to benefit from rising solar installations, both in India and internationally.
Additionally, as corporate and residential adoption of solar power increases, demand for high-efficiency solar modules and energy storage solutions is expected to grow. Waaree Energies has been investing in research and development (R&D) to improve module efficiency and expand its product portfolio.
Looking ahead, the company has outlined plans to increase manufacturing capacity, strengthen its supply chain network, and explore international markets for further expansion. The upcoming quarters will be crucial in determining whether the company can sustain its high growth trajectory amid rising competition and fluctuating raw material costs.
Despite challenges such as rising input costs, supply chain constraints, and currency fluctuations, Waaree Energies remains well-positioned to capitalize on the growing demand for renewable energy solutions.
Waaree Energies’ record-breaking Q3 performance highlights its strong market position and ability to navigate industry challenges. With a 260% YoY surge in net profit, robust revenue growth, and a booming solar PV module business, the company continues to establish itself as a key player in India's renewable energy transition.
As India moves towards achieving its ambitious renewable energy targets, Waaree Energies’ continued expansion and technological advancements will play a critical role in shaping the future of the solar industry. Investors and industry experts will be closely watching the company’s next steps as it aims for sustained growth and market leadership in the rapidly evolving solar energy landscape.
- Flat ₹20 Brokerage
- Next-gen Trading
- Advance Charting
- Actionable Ideas
Trending on 5paisa
06
5paisa Research Team
Indian Market Related Articles
Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing. For detailed disclaimer please Click here.