Olectra's revenue leaps 38% in Q2

Hyderabad: City-based Olectra Greentech Limited (Olectra), has announced a 38 per cent leap in the revenue for the quarter ended September 30, 2021. The total revenue of the company from the operation increased to Rs 69.05 crore against Rs 50.19 crore in the corresponding period of the last year. The company recorded the growth because of the supply of 18 electric buses in Q2 against the seven buses in Q2 2020. In the current quarter, the Pune bus operations helped record higher operating revenue.

The e-Bus division's revenue increased to Rs 42.1 crore from Rs 17.8 crore. The insulators division revenue declined by 17 per cent to Rs 27 crore from Rs 32.4 crore. The Profit Before Taxes(PBT) is up significantly to Rs.5.7 crore from Rs.3.4 crore in the corresponding period. The net profit has increased to Rs 3.71 crore from Rs 2.3 crore.

"With the EV revolution, this state-of-the-art plant will be a game-changer for Olectra Greentech. The company is aiming to become leading Electric Vehicle manufacture in India This supporting land infrastructure will encourage local manufacturing, under the government of India's Make in India, 'Aatmanirbhar' programs. In addition, it will increase employment opportunities and will also benefit the economy of the State," KV Pradeep, Chairman and Managing Director, Olectra Greentech Limited, said.