Waaree Energies Ltd reported a 14% year-on-year increase in consolidated net profit for the first quarter, reaching ₹850 crore.
The earnings beat was driven by a combination of robust organic growth in its core solar photovoltaic operations and a significant financial tailwind from the United States.
Simultaneously, revenue from engineering, procurement, and construction (EPC) contracts grew by 55%, indicating broad-based strength across the business unit.
Revenue from the company’s solar PV operations surged 91% during the quarter, reflecting strong demand in the renewable energy sector.
Simultaneously, revenue from engineering, procurement, and construction (EPC) contracts grew by 55%, indicating broad-based strength across the business unit.
These operational gains were further amplified by a refund of previously imposed US tariffs, which was recorded as an addition to operating income.
The inclusion of US tariff refunds in the income statement underscores the growing impact of trade policy adjustments on corporate profitability.