Waaree Renewable shares rally 5% as Q1 profit more than triples
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Shares of Waaree Renewable Technologies climbed as much as 4.7% on Friday to Rs 1,239.50 on the BSE , after the company reported a more than threefold increase in its June-quarter profit , driven by strong growth in its core operations.Waaree Renewable on Thursday posted a net profit of Rs 86.44 crore for the first quarter of fiscal 2026, marking a 205% jump from Rs 28.30 crore in the same period a year earlier. Revenue from operations for the June 2025 quarter surged 155% year-on-year to Rs 603.18 crore, compared with Rs 236.35 crore in the year-ago period.On a sequential basis, revenue rose 25.6% from Rs 476.57 crore reported in the March 2025 quarter.The company's total expenses also increased sharply to Rs 491.44 crore, up 146% from Rs 199.84 crore in the June 2024 quarter.The latest numbers come after the company reported an 83% rise in consolidated net profit to Rs 93.76 crore in the March 2025 quarter, when total revenue had grown 74% to Rs 476.57 crore. At the time, the company said its EPC business remained the main growth driver, contributing Rs 469.72 crore, up 76% year-on-year, while revenue from power sales held steady at Rs 6.85 crore.Despite being down 15.5% year-to-date and 36% over the past 12 months, the stock has shown signs of recovery this week. The Waaree Renewable stock extended its recent rebound, rising 23% in the past week alone.The recent rally has pushed Waaree Renewable's shares above all eight key simple moving averages, from the 5-day to the 200-day, indicating strength across timeframes.Technical momentum indicators also pointed to bullish sentiment. The Relative Strength Index stood at 74.2, and RSI above 70 is considered overbought. This implies that stock may show pullback.Meanwhile, the Moving Average Convergence Divergence (MACD) indicator was at 32.4 and remains above both the center and signal lines, reinforcing a bullish indicator.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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