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Waaree Energies Posts Gains in Fiscal Q4 Consolidated Profit; Shares Plummet 10%

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Waaree Energies' (NSE:WAAREEENER, BOM:544277) consolidated attributable net profit soared to 10.6 billion Indian rupees in the fiscal fourth quarter from 6.19 billion rupees a year ago, according to a Wednesday filing with the Indian stock exchanges.

The solar panel manufacturer's shares plummeted over 10% in Thursday's trade.

Earnings per share in the quarter ended March 31 climbed to 36.84 rupees from 21.51 rupees a year earlier.

Revenue from operations in fiscal Q4 more than doubled to 84.8 billion rupees from about 40 billion rupees a year earlier, the filing said.

The board recommended a final dividend of 2 rupees per share for the financial year ended March 31.

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