Indosolar turns a profit

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Solar cell manufacturer Indosolar Ltd, now acquired by Waaree Energies, has posted a net profit of INR 9.48 crore for the July-Aug-Sep quarter of FY 2025, compared to INR 3.2 crore loss reported in Q2 FY 2024. Total income from operations soared to INR 28.16 crore in Q2 FY 2025, against INR 3.83 lakh in Q2 FY 2024.

Waaree Energies had bought the loss-making Indosolar to expand its solar manufacturing capacity. Post acquisition, the company opened a 1.3 GW solar module manufacturing facility in Noida.

Waaree Energies recently appointed Amit Paithankar, chief executive officer (CEO) and Sonal Shrivastava, chief financial officer (CFO) of the Company, as the CEO and CFO, respectively, of Indosolar Ltd. This appointment was approved by the Board of Directors of Indosolar Limited at its meeting held on November 11, 2024.

 

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