Revenue from operations was at Rs 313.93 crore in the quarter ended 30 June 2024, up 45.33% as compared with Rs 216.02 crore posted in the corresponding quarter last year.
Profit before tax in first quarter of FY25 stood at Rs 31.85 crore, marking a growth of 26.09% from Rs 25.25 crore in Q1 FY24.
Total expenses spiked 51.78% YoY to Rs 288.70 crore during the June 2024 quarter. Cost of material consumed was at Rs 224.10 crore (up 46.14% YoY) and employee benefits expenses stood at Rs 18.42 crore (up 23.54% YoY) during the period under review.
On the segmental front, Insulator division revenue was Rs 37.51 crore (up 26.50% YoY), e-bus division revenue was Rs 282.40 crore (up 23.32% YoY) and revenue from e-truck division stood at Rs 276.43 crore (up 48.32% YoY) in the first quarter.
On standalone basis, the company’s net profit grew 10.91% to Rs 20.74 crore in Q1 FY25 as against Rs 18.70 crore posted in Q1 FY24. Revenue from operations jumped 47.65% to Rs 304.18 crore in the June 2024 quarter.
Meanwhile, the company’s board approved re-appointment of Venkateswara Pradeep Karumuru as the managing director (MD) of the company for a period of 3 years with effect from 29 July 2024.
Olectra Greentech is engaged in the manufacturing of composite polymer insulators, electric buses and electric trucks.