Olectra Greentech, a leading electric bus manufacturer has announced its financial result for FY2023, with consolidated revenue of Rs 1,090 crore, up 84 percent and net profit of Rs 65.59 crore, which was 86 percent higher compared to Rs 35.35 crore a year ago.
During the year, Olectra reported record deliveries of 563 e-buses in, as against 259 e-buses in FY2022. It also has a strong order book of 3,394 units.
In terms of Q4 FY2023 performance, the company reported consolidated revenue of Rs 375 crore, up by 39 percent, and consolidated revenue of Rs 27 crore, as against Rs 17.77 crore a year ago.
K V Pradeep, CMD, Olectra Greentech said, “Although there continues to be supply chain and other macro risks our focus continues on increasing our manufacturing capacity and enhancing our technology capabilities. This has helped us maintain our leadership position in the electric bus segment. We remain committed to contributing towards the clean mobility agenda of the country and look forward to a strong growth trajectory in the coming years.”
