Waaree Renewable Technologies Q2 FY27 Net Profit Falls 30% To ₹81.48 Crore; Revenue Rises 36.5%

Mumbai: Waaree Renewable Technologies Limited reported a 30 percent year-on-year decline in consolidated net profit to Rs 81.48 crore for the quarter ended September 30, 2026 (Q2 FY27), compared with Rs 116.36 crore in the corresponding quarter last year.

Despite the decline in profitability, revenue from operations increased 36.5 percent to Rs 1,057.84 crore from Rs 774.78 crore in Q2 FY26, according to the company's unaudited financial results filed with the stock exchanges on Monday.

Q2 FY27 Financial Performance

The company's consolidated total income rose to Rs 1,067.02 crore from Rs 779.21 crore a year earlier. Total expenses increased to Rs 961.66 crore from Rs 622.63 crore.

Profit before tax declined 32.7 percent to Rs 105.36 crore from Rs 156.58 crore in the year-ago quarter.

Basic earnings per share (EPS) fell to Rs 7.07 from Rs 11.16.

Sequential Performance

On a quarter-on-quarter basis, consolidated net profit declined 31.5 percent from Rs 118.96 crore reported in Q1 FY27.

Revenue from operations, however, increased 14.5 percent from Rs 924.25 crore in the April-June quarter.

Total expenses rose 25.5 percent sequentially from Rs 766.14 crore, while profit before tax declined from Rs 163.38 crore to Rs 105.36 crore.

Half-Year Performance

For the six months ended September 30, 2026, consolidated revenue from operations increased 43.8 percent to Rs 1,982.09 crore from Rs 1,377.97 crore in H1 FY26.

However, consolidated net profit declined 1.1 percent to Rs 200.44 crore from Rs 202.75 crore.

Segment Performance And Key Developments

Solar EPC revenue stood at Rs 444.98 crore in Q2 FY27, compared with Rs 769.19 crore a year earlier. The transmission and distribution EPC segment contributed Rs 606.13 crore.

The company stated that its acquisition of a 55 percent stake in Associated Power Structures Private Limited, completed on June 18, 2026, makes the current consolidated results not comparable with the corresponding previous-year periods.

Separately, the board approved capital expenditure for setting up a 35 MWp/25 MWac solar power plant at Wardha, Maharashtra.

Auditor's Review

KKC & Associates LLP issued an unmodified limited review conclusion on the consolidated financial results.

Disclaimer: This report is based on unaudited financial results filed by the company and does not constitute investment advice.