Pradeep reports book order of 8,088 e-buses
Partial production from Olectra Greentech Limited’s new facility at Seetarampur will commence in February 2024, Chairman & Managing Director K. V. Pradeep reported in the company’s latest financial report.
“The construction works on the 150-acre Seetarampur factory is in progress,” he said.
“Strong demand continues with the total number of bus orders on hand at 8,088 units as of in Q3.
“Our focus continues on increasing our manufacturing capacity and enhancing our technology capabilities.”
Olectra delivered 178 electric vehicles, against the 142 delivered in 2022–23, an increase of 25%.
The revenue for Q3 FY23-24 was Rs.342.14 crore, up by 33%. This significant revenue growth was recorded due to the deliveries. The company has delivered 1,615 electric vehicles till date.
The company’s EBITDA in Q3FY23–24 was Rs.56.10 crores, marking a substantial 52% increase compared to the previous year. The PBT has surged to Rs.33.84 crores, a remarkable 65% increase from the previous fiscal year’s Rs.20.46 crores. The PAT stands at Rs.27.11 crores, compared to Rs.15.30 crores in the previous fiscal year up by 77%.
The revenue for 9 months FY23–24 was Rs.865.33 crore, up by 21%. The company’s EBITDA in 9 months reached an impressive Rs.142.67 crores, marking a substantial 40% increase compared to the previous year.
The 9-month PBT surged to Rs.85.67 crores, a remarkable 58% increase from the previous fiscal year’s Rs.54.38 crores. The PAT stands at Rs.63.76 crores, up by 62%, compared to the previous fiscal year’s Rs.39.40 crores. Fiinews.com
