Wabag net profit surges 8% to Rs 2,358 mn in FY24

CHENNAI: VA Tech Wabag has reported a net profit of Rs 2,358 mn in FY24, up 8 per cent YoY. Consolidated revenue from operations stood at Rs 28,564 mn. Rajiv Mittal, CMD, VA Tech Wabag, said, “We continue to deliver profitable growth this year with persistent focus on technology, EP, industrial and international projects. Group continues its strategic approach to remain ‘asset light’, last year we strategically divested two of our European subsidiaries and we have also successfully inducted majority equity partner in 2 out of 3 HAM SPVs. Our robust order book position is over Rs 114 billion. This is the fourth consecutive year we have concluded net cash positive. We will sustain this growth path”.