Olectra records net profit of Rs 47.65 cr

Leading electric vehicle manufacturer Olectra Greentech Limited (OGL) announced its Q2 and half-year consolidated financial results for the period ending September 30, 2024. The Board of Directors, in its meeting held on Tuesday, officially approved these remarkable achievements.
Commenting on the results, Olectra Greentech Limited CMD K.V. Pradeep said, “We are pleased to report strong growth in our consolidated revenue and profitability for Q2 and H1 FY 24-25. Our focus continues to be on increasing our manufacturing capabilities and enhancing our technology. Our order book remains strong.”
During the quarter under review, Olectra delivered 315 electric vehicles, compared to 154 delivered in FY 23-24, marking an increase of 105 percent. The revenue for Q2 FY 24-25 was Rs 523.67 crores, up by 70%. This significant revenue growth was attributed to high deliveries during the quarter. The company has now delivered 2,217 electric vehicles to date. Congratulations to the team for achieving these impressive results. Strong demand continues, with the total number of bus orders on hand at 10,503 units.
The company’s EBITDA in Q2 FY 24-25 reached an impressive Rs 85.69 crores, marking a substantial 90% increase compared to the previous fiscal year. The PBT surged to Rs 64.83 crores, a remarkable 144% increase from the previous fiscal year’s Rs 26.57 crores. The PAT stands at Rs 47.65 crores, compared to Rs 18.58 crores in the previous fiscal year, representing an increase of 156%. The company reported Earnings Per Share (EPS) of Rs 8.72 for the half-year ended September 30, 2024, compared to Rs 4.40 for the previous half-year ended September 30, 2023.
______________