Olectra Greentech has announced that it has received a Letter of Award from the Assam State Transport Corporation for delivering 100 electric buses.
This the company says is the first order it has bagged from the Norther-Eastern states in the country.
At present, Olectra Greentech holds the leadership position in the country in terms of e-buses deployed with 850 units, followed by Tata Motors at 715 units.
The Assam State Corporation has given Olectra Greentech the order on outright basis, which shall be delivered over a period of 9 months. It will also be responsible for maintenance of these buses for a period of 5 years. The value of these 100 Buses supply would be approximately Rs 151 crore.
K V Pradeep, Chairman and MD, said, “We feel happy to get the first order from the North-Eastern states and Assam. With this order, our buses are running all the corners in India. Our e-buses have clocked over 5 crore kilometres on Indian roads, and reduced carbon emissions significantly.”
In terms of financial performance, Olectra Greentech, on a standalone basis, reported revenue from operations of Rs 304.7 crore in Q1 FY2023, as against Rs 41.2 crore for the corresponding quarter last year.
