Waaree Energies shares fell over 6 per cent on Thursday after the company reported its June quarter results, with investors reacting despite a 14 per cent y-o-y rise in consolidated net profit to ₹850 crore for the quarter ended June 30, 2026.At 10.09 am, the stock traded 5 per cent lower at ₹2,592.70, hitting a low of ₹2,561 from the previous close of ₹2,736.20 on the NSE.The company said the profit included income recognised from the refund of reciprocal duties levied under tariffs imposed by the US under the International Emergency Economic Powers Act (IEEPA), following a ruling by the US Supreme Court that declared such duties unlawful.Domestic brokerage JM Financial said the company’s first-quarter performance was an all-round miss. The brokerage said revenue stood at ₹79 billion, including one-off revenue of ₹3.5 billion. Adjusted revenue came in at ₹76 billion, down 11 per cent q-o-q, 12 per cent below its estimates and 6 per cent below consensus.The brokerage said EBITDA margin declined to 14 per cent from 19 per cent in Q4FY26, while production fell 23 per cent q-o-q to 3.2 GW. It reiterated its add rating on the stock with an unchanged target price of ₹3,296, subject to review after the earnings call.Published on July 30, 2026