India-basedWaaree Energies reported strong profitability in Q3 FY2024, with consolidated net profit surging to INR 5,068.76 crore, up from INR 1,408.05 crore (~$585.43 million-~$162.62 million) in the year-ago quarter. Total income increased to INR 35,452.65 crore (~$4.09 billion), compared to INR 16,517.74 crore(~$1.90 billion) in Q3 FY2023, while expenses rose to INR 28,554.53 (~$3.29 billion) crore from INR 15,173.08 crore (~$1.75 billion). The US market contributed 15-20% of the company’s revenue. In January, Waaree Solar Americas Inc commenced commercial production of a 1.6 GW solar module line in Brookshire, Texas. The company’s expansion includes a 3.5 GWh lithium-ion advanced chemistry storage cell manufacturing plant, with an approved investment of INR 650 crore(~$75.05 million). The board also sanctioned a capital expenditure of INR 2,073 crore (~$239.42 million). Waaree continues to expand in energy storage, green hydrogen, inverters, and renewable infrastructure, positioning itself for further growth in the clean energy sector.