Waaree Energies Ltd. reported December quarter results on Thursday, January 30, where its net profit of ₹493 crore jumped four-fold jump, compared to Rs 124.5 crore in the same period of the previous financial year.

Revenue for the quarter increased by 116% from last year to ₹3,457 crore. The number was also higher than ₹1,596 crore reported in the year-ago period.

Waaree Energies has an orderbook of 26.5 GW valued at ₹50,000 crore as on date.

“As an energy transition company, we see immense opportunities and are well positioned to tap into new business areas. Our solar business continues to be strong and we are rapidly advancing in the adjacencies of energy storage systems, green hydrogen, inverters and renewable infrastructure. The momentum in this space is stronger than ever, and we are well-positioned to capitalise on it,” said Amit Paithankar, Whole Time Director and CEO at Waaree Energies.

Paithankar continues to build on our strengths, enhancing scalability and internal efficiencies, which has clearly reflected in our 9M FY25 performance. Strong execution and disciplined growth remain at the core of our strategy.

The US contributed 15-20% of its revenue mix. As we expand globally, we are strengthening our presence in high-potential regions, ensuring that we stay ahead of the curve in this fast-evolving industry.

Waaree Energies is an Indian manufacturer of solar PV modules with an aggregate installed capacity of 12 GW. Its product portfolio includes solar energy products consisting of the PV modules such as multicrystalline modules; Monocrystalline modules; and TopCon modules.

Shares of Waaree Energies Ltd. settled 1.25% higher on Thursday at ₹2,235.05. The stock is down over 20% so far this year.