Waaree Renewable Technologies shares drop sharply in early trading after the company reports June-quarter financial results. Multiple outlets say revenue and net profit rise year-on-year, with profit increasing around 34% compared with the same quarter in the previous year. However, investor reaction is driven by weaker profitability signals, including a decline in operating margin and concerns about softer sequential performance. Economic Times reports that, despite the year-on-year profit growth, the market focuses on weaker quarter-on-quarter earnings and revenue, which it says spooks investors. The company also reiterates longer-term growth expectations, supported by its order book and expansion in areas such as transmission and distribution (T&D). Overall, the results show improved profit and revenue on a yearly basis, but margins and sequential figures deteriorate enough to weigh on sentiment, leading to the steep share decline.