Waaree Energies shares tumble over 6% after muted Q2 earnings

Waaree Energies, India’s largest solar PV module manufacturer, reported a 15% YoY rise in Q2 net profit to Rs 362 crore. Revenue grew 1% YoY to Rs 3,574 crore. The company, which listed with a 70% premium, continues expanding with a 3 GW US manufacturing facility. For FY24, revenue surged 69% YoY to Rs 11,398 crore, while profit more than doubled.