Waaree Renewable Q2 profit dips on costs despite 37 percent revenue jump
WAAREERTL · price
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On the reaction day the stock moved 8.3 pts less than Nifty Microcap 250 and 8.5 pts less than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Consolidated Q2 revenue jumped 37 percent YoY to Rs 1,057.84 cr; H1 revenue up 44 percent to Rs 1,982.09 cr, boosted by new APSPL unit. But Q2 profit attributable to owners fell 36 percent to Rs 73.89 cr on higher finance costs (Rs 36.83 cr vs Rs 3.62 cr) and depreciation. H1 PAT dipped 6 percent to Rs 189.77 cr. Operating cash flow turned negative. Board cleared 35 MW Wardha solar plant capex.
Strong top-line growth from new subsidiary, but margins compressed and cash flow turned negative, weighing on bottom line