Olectra Greentech reports 52% rise in consolidated Q4 net profit – Times of India

Hyderabad: Electric bus manufacturer Olectra Greentech Limited ,ogl) said on Friday that it has registered a growth of 52% consolidated Net profit for the fourth quarter ended March 31, 2023 stood at Rs 27 crore as compared to around Rs 18 crore in the corresponding quarter of the previous financial year.
It stood at Rs 376 crore, a 39% increase in consolidated revenue for Q4FY23 from Rs 271 crore in Q4FY22.
On a financial basis, the Hyderabad-based player reported an 86% jump in consolidated net profit for FY23 from Rs 35 crore in FY22 to Rs 66 crore, an 84% increase in consolidated revenue from Rs 593 crore in FY23 1091 crore was Rs. FY22.
The company said it had witnessed a 117% jump in deliveries of e-buses to 563 in FY23 from 259 in FY22 with an order book of 3394 units. OGL also commenced sales of electric tippers with 17 units in Q4 FY2023.
Commenting on the results, OGL CMD KV Pradeep Said that despite supply chain and other macro risks, the company’s focus on increasing manufacturing capacity and enhancing technology capabilities has helped it maintain its leadership position in the EV segment.