Waaree Renewable Technologies Q3 earnings: Shares of Waaree Renewable Technologies Ltd ended 6% lower on Thursday after the power generation firm reported its Q3 earnings. Waaree Renewable shares slipped 6% to Rs 1076.75 on BSE. Market cap of the firm fell to Rs 11,224.75 crore. The stock which was trading higher for a majority of session, fell after the earnings were announced in the afternoon session today.
Total 13.33 lakh shares of Waaree Renewable changed hands amounting to the highest turnover of Rs 151.25 crore. The share hit a 52-week high of Rs 3037.75 on April 26, 2024 and fell to a 52 week low of Rs 493 on January 17, 2024. The stock is not listed on NSE. On December 19 last year, the company's board approved the listing of its equity shares on National Stock Exchange of India (NSE) subject to regulatory approvals.
Net profit for Waaree Renewable slipped 17% to Rs to Rs 53.50 crore in the third quarter against a post-tax profit of Rs 64.25 crore.
On a quarter-on-quarter basis, profit was marginally lower than Rs 53.51 crore posted in Q2 FY25. Revenue from operations climbed 11.15% to Rs 360.34 crore in last quarter compared to Rs 324.19 crore in the year-ago period.
The company also announced an interim dividend of Rs 1 per equity share of Rs 2 each.
The company fixed January 24 as the record date to determine the eligibility of shareholders for the payment of said dividend.
"The interim dividend is payable to those members whose names appear in the Register of Members of the Company or, will appear as beneficial owners as per particulars furnished by the Depositories at the close of the business on 24th January 2025, being the 'record date' to ascertain the eligibility of members to receive the said interim dividend," the Waaree Group firm said in an exchange filing.
Waaree Renewable shares are trading lower than the 10 day, 20 day, 50 day, 100 day and 200 day moving averages. It has very low volatility with a beta of 0.8 in the last one year. The stock has gained 108% in one year and risen 986% in two years. In three years, the stock has gained 1410.80%.
Waaree Renewable is engaged in the business of generation of power through renewable energy sources and also providing Engineering, procurement, and construction (EPC) services in this regard. It has its registered office in Mumbai and its energy generation site is located in Maharashtra.