Waaree Renewable Technologies rose 2.94% to Rs 492 after the company said it received a Letter of Award (LoA) for solar power project.
Waaree Renewable Technologies (formerly known as Sangam Renewables) has received a Letter of Award (LoA) on 25 November 2022 from one of the reputed steel industry player for executing Engineering, Procurement, and Construction (EPC) works in respect of solar power project with a capacity of 52.5 MWp DC along with provision of land, infrastructure and approvals for 70 MWp DC. Customer will issue PO pursuant to LoA.Waaree Renewable is engaged in the business of generation of power through renewable energy sources and also providing engineering, procurement, and construction (EPC) services in this regard.
The company's consolidated net profit rose 87.7% to Rs 8.09 crore on 966.9% jump in revenue from operations to Rs 120.56 crore in Q2 FY23 over Q2 FY22.
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