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Compiler warnings can provide some additional insight and quality controls on your codebase. They can tell you about obsolete code, unused variables, and many other items that you wouldn’t necessarily see on visual inspection. Warnings can also surface bugs, such as possible null reference exceptions, or expressions that always evaluate to “true”.
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Warnings do effect the performance of the Project in a larger way. Warnings such as declaring a variable and never using it means the memory consumption shoots up since the memory is allocated for unwanted/unused variables.
Same is the case with the efficient use of Exception Handling in the code.
And , the best thing to avoid these is to treat compiler warnings as Error.
Refer
Treat Warning as Error[
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