Meanwhile, Waaree Renewable Technologies recorded a healthy 11.15% YoY growth in its revenue from operations, which stood at Rs 360.35 crore for the quarter, up from Rs 324.19 crore in Q3FY24.
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Revenue for 9MFY25 stood at Rs 1,121.17 crore, compared to Rs 603.19 crore in the same period during 9MFY24, representing an 85.87% YoY growth.
The company’s EBITDA for Q3FY25 stood at Rs 71.92 crore, down from Rs 87.81 crore in Q3FY24.
Additionally, the company declared an interim dividend of Re 1 per share for its shareholders and has set January 24 as the record date for the dividend, marking the date when entitlement will be finalized and the stock price adjusted accordingly.Despite recent declines, the company’s stock has delivered remarkable long-term returns. Its shares have appreciated over 108.6% in the past year and soared by more than 1,410.8% over the past three years. However, the stock has faced significant pressure in recent months, falling 44.3% in the last six months and 14% in the past week alone.The company also recently announced the resignation of its Chief Financial Officer (CFO), Dilip Panjwani. In a filing dated January 7, the company disclosed Panjwani’s resignation, citing no material reasons for the decision. Panjwani’s tenure will officially end on January 31.
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