Waaree Renewable Technologies Ltd (WRTL) on Monday, January 22, announced its earnings for the quarter ended December 2023. The renewable energy company said that during the period under review, its consolidated profit after tax (PAT) more than doubled, surging 158% to ₹64.46 crore. In the corresponding period in the previous fiscal, the company had reported a PAT of ₹24.98 crore.
The rise in profit was aided by higher revenues. Waaree Renewable reported a revenue of ₹324.19 crore for the quarter under review, up 338% from ₹73.88 crore in the year-ago period. The company reported a 145.37% rise in EBITDA at ₹87.82 crore.
In an exchange filing, the small-cap company said that during the October-December quarter, the company received 70 MW capacity ground-mounted solar power project and as of December 31, the unexecuted order book stands at 749 MW.
The company also announced the board has proposed splitting of existing 1 equity share of face value of ₹10 will be divided into five equity shares of face value of ₹2 each. The record date for the same is yet to be decided.
Waaree Renewable Technologies is the solar engineering, procurement and construction (EPC) subsidiary of the Waaree Group. It is involved in the ownership, financing, construction as well as operation of solar projects.
