Electrical automobile maker Olectra Greentech’s revenue after tax nearly tripled to Rs 18.58 lakh crore within the September quarter 2023-24 primarily as a consequence of increased revenues.
In the identical interval final yr, revenue after tax stood at Rs 7.42 lakh crore, an organization assertion stated.
Income for Q2 FY24 was Rs 307.16 crore as in opposition to Rs 177.34 crore beforehand.
It stated revenues grew as a result of improve in automobile deliveries. In the course of the quarter below evaluate, Electra delivered 154 electrical vehicles, in comparison with 111 delivered in the identical interval of 2022-2023.
The corporate has delivered greater than 1,437 electrical automobiles up to now. Demand continues to be robust, with the entire variety of bus orders accessible reaching 8,208 models.
The corporate reported earnings per share (EPS) of Rs 4.40 for the half yr ending September 30, 2023, in comparison with Rs 2.95 for a similar interval final yr.
In the course of the first half of 2023-24, post-tax revenue tax stood at Rs 36.65 lakh crore, a rise of 52 per cent, in comparison with the identical interval final yr. Income stood at Rs 523.18 crore, up 14% year-on-year.
Olectra Greentech CMD KV Pradeep stated: “Our focus continues to extend our manufacturing capability and improve our expertise capabilities. We even have a powerful order guide.”
Building work is progressing on the Seetarampur plant unfold over 150 acres. He added that with this manufacturing facility, manufacturing capability will improve additional.
(Solely the title and picture of this report might have been reworked by Enterprise Normal employees; the remainder of the content material is auto-generated from a syndicated feed.)
First revealed: November 5, 2023 | 1:28 pm he
(Tags for translation)Electra Greentech