HYDERABAD: Electric buses manufacturer Olectra Greentech Limited (OGL) on Friday said it has posted a 52% rise in consolidated net profit for the fourth quarter ended March 31, 2023, at Rs 27 crore as compared to nearly Rs 18 crore in the corresponding quarter of last fiscal.
This was on a 39% rise in consolidated revenue for Q4FY23 at Rs 376 crore from Rs 271 crore in Q4FY22.
On a fiscal basis, the Hyderabad-based player recorded an 86% jump in consolidated net profit for FY23 at Rs 66 crore from Rs 35 crore in FY22 on a 84% increase in consolidated revenue at Rs 1091 crore for FY23 from Rs 593 crore in FY22.
The company said it had clocked a 117% jump in deliveries of e-buses at 563 in FY23 from 259 in FY22 with an order book of 3394 units. OGL also commenced sales of electric tippers with 17 units being delivered in Q4FY23.
Commenting on the results, OGL chairman & managing director K V Pradeep said that despite supply chain and other macro risks, the company’s focus on increasing manufacturing capacities and enhancing technology capabilities had helped it maintain a leadership position in the EV segment.
This was on a 39% rise in consolidated revenue for Q4FY23 at Rs 376 crore from Rs 271 crore in Q4FY22.
On a fiscal basis, the Hyderabad-based player recorded an 86% jump in consolidated net profit for FY23 at Rs 66 crore from Rs 35 crore in FY22 on a 84% increase in consolidated revenue at Rs 1091 crore for FY23 from Rs 593 crore in FY22.
The company said it had clocked a 117% jump in deliveries of e-buses at 563 in FY23 from 259 in FY22 with an order book of 3394 units. OGL also commenced sales of electric tippers with 17 units being delivered in Q4FY23.
Commenting on the results, OGL chairman & managing director K V Pradeep said that despite supply chain and other macro risks, the company’s focus on increasing manufacturing capacities and enhancing technology capabilities had helped it maintain a leadership position in the EV segment.