Shares of Waaree Renewable Technologies Ltd slumped 7% on Friday, 17 January, after the company reported weak quarterly earnings for October-December of the current fiscal year. 

The company reported a 16.7% year-on-year decline in net profit to Rs 53.5 crore for the quarter under review compared to Rs 64.25 crore reported in the same quarter of the previous fiscal year. 

However, the revenue from operations during the quarter stood at Rs 360.34 crore, marking an 11.15% YoY increase from Rs 324.19 crore reported in the same quarter last year.

The company has also announced an interim dividend of Rs 1 per share of Rs 2 each for the current fiscal year. 

In its regulatory filing, the company said, “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 24 January 2025, being the ‘record date’ to ascertain the eligibility of members to receive the said interim dividend.” 

At 12:48 pm, the shares of Waaree Renewable were trading 2.54% higher at Rs 1,049.40 on NSE.

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