Q3 Results: Waaree RTL Reports 136% YoY Rise in Revenue, 125% Jump in PAT in Q3 FY26

Mumbai: Waaree Renewable Technologies, the EPC arm of the Waaree Group, has announced its financial results for the third quarter (Q3) of the financial year 2025–26, reporting strong growth in both revenue and profitability.

The company reported revenue of ₹851 crore in Q3 FY26, registering a sharp 136% year-on-year (YoY) increase compared to ₹360.35 crore in the corresponding quarter of the previous financial year. On a sequential basis, revenue rose 9.8% quarter-on-quarter (QoQ) from ₹774.78 crore recorded in Q2 FY26.

Rise In Profits

Waaree Renewable Technologies also posted a significant rise in profitability during the quarter. Profit after tax (PAT) stood at ₹120.19 crore in Q3 FY26, compared to ₹53.48 crore in Q3 FY25, translating into a 124.7% YoY growth in net profit.

The company had reported a PAT of ₹116.34 crore in the preceding quarter (Q2 FY26). Accordingly, PAT increased 3.3% on a QoQ basis, reflecting stable margins amid higher execution levels.

Nine-Month Performance

For the first nine months of FY26, Waaree Renewable Technologies reported total revenue of ₹2,229.03 crore, nearly doubling from ₹1,121.17 crore recorded in the same period of FY25. This represents a 98.8% YoY growth in revenue.

Net profit for the nine-month period rose sharply to ₹322.93 crore, compared to ₹135.16 crore in the corresponding period of the previous fiscal, marking a 138.9% YoY increase in PAT.

The strong quarterly and nine-month performance underscores the company’s expanding EPC order book and accelerating project execution in India’s utility-scale solar market. 

Responding to the results, Manmohan Sharma, CFO of Waaree RTL said, "With an unexecuted EPC orderbook of 2.92 GWp, WRTL is positioned to deliver large-scale solar projects, also ensuring long-term performance through integrated O&M services. India’s energy transition is not only about expanding capacity but also about embedding resilience and efficiency.   We also strengthened our financial position through a focus on operational efficiency and prudent capital allocation. We remain committed to maintaining healthy cash flows, conservative leverage and strong governance standards.