Waaree Renewable Technologies shares in focus today, here's why

Shares of Waaree Renewable Technologies are in news today after the firm said it has received an enhancement in the scope of work under the existing contract for the execution of Engineering, Procurement, and Construction (EPC) works for a Solar Power Plant of 980 MWp / 700 MWac capacity on a turnkey basis.

"We are pleased to inform you that “WAAREERTL” has received an enhancement in the scope of work under the existing contract for the execution of Engineering, Procurement, and Construction (EPC) works for a Solar Power Plant of 980 MWp / 700 MWac capacity on a turnkey basis, as detailed in the annexure," said Waaree Renewable Technologies.

The scope under the commercial order has been enhanced by Rs. 27.22 cr totalling to Rs 1017.82 cr.

Net profit in the last quarter more than tripled to Rs 86 crore, up from Rs 28 crore in the previous year. Waaree Renewable Technologies reported a 156% rise in revenue to Rs 603 crore compared to the same period last year. The company's earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) surged by 183.7% year-on-year to Rs 118 crore, leading to an expansion in the EBITDA margin by nearly 200 basis points to 19.54%.